Warburg Pincus Pares 1.3% Stake In IDFC First Bank Worth Rs 790 Crore
Following the stake sale, shares of IDFC First Bank declined 3.02% to close at Rs 87.69 apiece on the BSE.
Warburg Pincus on Thursday divested a 1.3% stake in private lender IDFC First Bank Ltd. through an open market transaction for Rs 790 crore.
Following the stake sale, shares of IDFC First Bank declined 3.02% to close at Rs 87.69 apiece on the BSE.
Dayside Investment, an affiliate of U.S.-based private equity firm Warburg Pincus, offloaded more than 9.17 crore shares of IDFC First Bank on the BSE.
According to the bulk deal data available with the BSE, Dayside Investment offloaded 9,17,75,672 shares, amounting to a 1.3% stake in the private lender.
The shares were disposed of at an average price of Rs 86.10 apiece, taking the transaction value to Rs 790.18 crore.
After the transaction, Dayside Investment has exited the firm after selling its entire 1.3% stake in the private sector lender. However, Warburg Pincus, through Cloverdell Investment, still held a 2.74% stake in IDFC First Bank.
Details of the buyers could not be ascertained.
In September, Warburg Pincus pared a 4.2% stake in IDFC First Bank for Rs 2,480 crore through an open market transaction.
