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Capital First promoter looks to sell one-third stake

Press Trust of India  |  New Delhi 

The Warburg Pincus-backed non- firm, Capital First, today said its promoter Cloverdell Investment plans to sell about one-third of its holding in the company.

"Cloverdell Investment Ltd, an affiliate of Warburg Pincus group and promoter, has informed us that they propose to sale up to 20 million equity held by them in the company," Capital First said in a filing.

It further said: "This amounts to 20 per cent (approximately) of the shareholding out of their total stake of 61 per cent held in the company. The details will be submitted once we receive the same from the said promoter."

Capital First provides debt financing to MSMEs and consumer as well as small-ticket loans in unbanked and under- penetrated segments.

The stock was trading 3.54 per cent down at Rs 736 on the

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 11:28 IST