ALSO READCiti tops global transaction banking ranks - Coalition Govt working to expand digital transaction at great pace: FM Panel to seek suggestions to build Haryana a cashless state Govt to 'carefully examine' CM panel's BCTT recommendations 46% citizens say banks do not disclose transaction fee for net banking: Survey
The Warburg Pincus-backed non- banking finance 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 Government 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 India 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.