Bessemer India Capital Exits Home First Finance, Sells 7.75% Stake For Rs 467 Crore

Bessemer India Capital Holdings II on Thursday divested 7.75% stake in Home First Finance Company India for over Rs 467 crore through an open market transaction.

Fidelity Funds—Asian Smaller Companies Pool and Nomura Trust and Banking Co. bought a total of 11.93 lakh equity shares of the company.

Bessemer India Capital Holdings II is an affiliate of U.S.-based venture capital company Bessemer Venture Partners.

According to the bulk deal data available with the National Stock Exchange, Bessemer India Capital Holdings II sold a total of 68,11,313 shares, amounting to 7.75% stake in the company.

The shares were disposed at an average price of Rs 686.07 apiece, taking the transaction at Rs 467.30 crore. As of December quarter, Bessemer had owned 7.75% stake in the company, shareholding data with the bourse showed.

Shares of Home First Finance Company India plunged 7.97% to close at Rs 678.90 per piece on the NSE.

In another transaction, Gokaldas Exports' promoter group entity pared 9.9% stake in the company for Rs 235 crore through an open market transaction.

Clear Wealth Consultancy Services LLP is the promoter group entity of Gokaldas Exports. Clear Wealth offloaded 60 lakh shares, amounting to 9.90% stake in the company, as per the bulk deal data available on the NSE.

The shares were sold at an average price of Rs 390.91 each, taking the aggregate at Rs 234.54 crore. With the latest transaction, Clear Wealth's shareholding have dropped to 10.66% from 20.56% (as of Dec. 2022) stake in the company.

Goldman Sachs Collective Trust—Emerging Markets Equity Ex China Fund, Ashoka India Equity Investment Trust Plc A/C, Aditya Birla Sun Life Pure Value Fund and Aditya Birla Sun Life Small Cap Fund were the entities who picked up shares of the company.

On Thursday, scrip of Gokaldas Exports declined 3.53% to settle at Rs 393.20 per share on the NSE.