India:
True North Acquires Controlling Stake In Home First Finance Company For USD 100 Million
08 May 2017
Nishith Desai Associates
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DEAL BRIEF
True North (previously known as India Value Fund) has acquired a
controlling stake in Home First Finance Company Private Limited
("HFFC"), a housing finance company
headquartered in Mumbai engaged in providing affordable housing
loans to low and middle income groups. The acquisition valuing
about USD 100 million was achieved by way of a secondary sale from
a few of the existing shareholders and a fresh issuance of shares.
Bessemer Venture Partners ("BVP"), one
of the earlier investors in HFFC continued as a shareholder in
HFFC.
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