Warburg Pincus Increases Stake in Capital First to 68.4 Percent (Asia)
Source: AVCJ | Author: Andrew Woodman
Warburg Pincus has invested INR2.7 billion (approximately US$49.7 million) in Indian financial services company Capital First, formerly Future Capital, for an additional 24.43 percent stake, raising its total stake in the company to 68.4 percent. The investment took place through a share purchase on the Bombay Stock Exchange, following a September 2012 purchase of a 42.73 percent stake for INR4.7 billion (approximately US$86 million) and an INR500 million (approximately US$9.3 million) investment in compulsorily convertible preference shares representing a 1.24 percent stake. Capital First provides a range of financial services to consumers, investors and businesses including loans and wealth management services.