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Warburg Pincus sells $275 million stake in India's Capital First
May 17, 2017 / 2:16 PM / 6 months ago

Warburg Pincus sells $275 million stake in India's Capital First

(Reuters) - An affiliate of private equity firm Warburg Pincus sold a 25 percent stake in Indian non-bank lender Capital First Ltd (CAPF.NS) for 17.67 billion rupees ($275.4 million) in stock market transactions on Wednesday.

The Warburg affiliate, Cloverdell Investment Ltd, sold 24.3 million shares at an average price of 727.35 rupees apiece, according to BSE stock exchange data.

After the deal, Warburg Pincus’ stake will come down to 36 percent, Capital First said in a separate statement. Local and foreign investors bought the stake sold by the Warburg affiliate, it said.

Singapore state investor GIC [GIC.UL] boosted its stake in Capital First to nearly 13.91 percent by buying an additional 8.93 percent on Wednesday, the Indian company said.

Stock exchange data showed GIC bought about 8.7 million shares at 725 rupees each.

Reporting by Arnab Paul and Sankalp Phartiyal; Editing by Mark Potter

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