Warburg Pincus has divested a 4.2 per cent stake in IDFC First Bank for Rs 2,480 crore through an open market transaction. US-based private equity firm Warburg Pincus has offloaded the shares of IDFC First Bank through its affiliate Cloverdell Investment on the BSE.
According to the bulk deal data, Cloverdell Investment sold more than 27.86 crore shares, amounting to a 4.2 per cent stake in IDFC First Bank. The shares were disposed at Rs 89 apiece, taking the aggregate transaction value to Rs 2,480.34 crore.
IDFC First Bank provides a range of financial solutions to individuals, small businesses and corporates.
