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Warburg Pincus sells 25 pc stake in Capital First

Press Trust of India  |  New Delhi 

The Warburg Pincus-backed non- firm, Capital First, today said its promoter Cloverdell Investment has sold 25 per cent stake in the company.

"As part of this transaction, GIC, a Sovereign Wealth Fund established by the of Singapore, has acquired incremental 8.93 per cent stake in Capital First Limited taking GIC's total shareholding in Capital First Limited to 13.91 per cent," the company said in a statement.

Cloverdell Investment continues to be the promoter of the company with 36 per cent stake in Capital First, it added.

Warburg Pincus Co-Head and Managing Director Vishal Mahadevia said affiliates of Warburg Pincus continue to remain significant shareholders in Capital First and "we welcome a group of new institutional investors".

Capital First, however, did not disclose value of the transcation.

Before the transaction, Cloverdell Investment held 61 per cent stake in the company.

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

The stock closed 5.12 per cent down at Rs 723.95 on the BSE.

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

First Published: Wed, May 17 2017. 21:28 IST