Block deal alert: BofA, Goldman Sachs, others in Home First Finance for Rs. 1,100 crore worth of shares bought

Home First Finance saw multiple book deals on Monday with BofA, Goldman Sachs, Citigroup and HDFC mutual fund promoter entities True North Fund V LLP (Warburg Pincus) and Aether (Mauritius) Ltd offloading Rs. 1,100 crore were among the buyers of shares. Non-Promoter Orange Clove Investments BV

Among buyers, BoFA Securities Europe SA ODI added Rs. 55 crore worth 5.54 lakh shares were bought while American Fund Insurance Series Capital Income Builder bought Rs. 259 crore worth 26.18 lakh shares were bought. Citigroup Global Markets Mauritius Private Limited ODIA Rs. Taken more than 11 lakh shares worth Rs 110 crore.

On account of Government Pension Fund Global, Norges Bank based in Norway Rs. 251 crore bought 25.35 lakh shares while Goldman Sachs Funds – Goldman Sachs India Equity Portfolio bought Rs. 85 crore bought 8.6 lakh shares. Prudential Hong Kong Limited has raised Rs. 56 crore bought 5.68 lakh shares.

Domestic fund HDFC MF raised Rs. 294 crores have bought 29.70 lakh shares.

This share is about Rs. 990 were purchased.

Between three sellers Rs. 1,411 crore worth of shares were sold.

Shares of Home First Finance today traded at Rs. 1074.55, up from Friday’s closing price of Rs. 22.05 or 2.10% was higher.

On Friday, CNBC TV18 reported Rs. 1,267 crore reported the possibility of a block deal where 14.7% stake was on offer. The report quoted sources as saying that the floor price was shown at Rs 968 per kg, which was a discount of 8% to the current market price.

True North Fund’s holding in the company as of September 30, 2024 was 14.07% while Aether holds 9.31% as of date. Meanwhile, Orange Clove holds a 22.90% stake in the Mumbai-based company.

Home First, a small cap stock with a market capitalization of Rs. 9,602.99 crores. The stock has returned 13% over a 1-year period which is lower than the Nifty (17%) over the same period. So far in 2024, the stock has yielded 15%.

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In the July-September quarter, the company posted Rs. 92.2 crore as against a standalone net profit of Rs. 74.3 crore was 24% higher than last year. The total revenue for this quarter was Rs. 374.2 crore as compared to Rs. 278 which is an increase of 37%.

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