PR86014

MUMBAI, India, October 8, 2020 /PRNewswire=KYODO JBN/ --

    US based private equity firm Warburg Pincus LLC ("Warburg Pincus"), through

it's affiliate Orange Clove Investments BV, has entered into an agreement to

invest about $95 MN (INR 700 Cr) in Home First Finance Company India Ltd ("Home

First") on October 2, 2020. The announcement came in today from the leading

global private equity firm focused on growth investing. The investment of

approximately INR 700 crore is a combination of primary fund raise and

secondary sales by existing shareholders. Warburg Pincus joins existing marquee

PE firm shareholders True North and Bessemer Venture Partners.

    Home First is a technology driven, affordable housing finance company

providing home loans to customers from low- and middle-income segments, who are

building or buying their first homes. Over the last 10 years, Home First has sanctioned

home loans across India to more than 50,000 customers in 60 districts, covering 11 states

and 1 union territory. As of March 31, 2020, Home First had an AUM of $480 Mn

(INR 3618 Cr) with a Net worth of $124 Mn (INR 933 Cr) and GNPA of 0.87%

    This investment is a huge vote of confidence for the Indian affordable

housing segment in general and more specifically for the performance of Home

First even in the face of this worldwide crisis.

    Narendra Ostawal, MD, Warburg Pincus said, "Home First has had a remarkable

journey to become a leading affordable housing finance company in a relatively

short span of 10 years. It is helmed by a very talented team and robust

operating processes that continue to steer the company to do well through the

pandemic and to leverage the growth potential of the affordable segment.

Warburg Pincus looks forward to the partnership with True North and towards

backing Manoj and the management team in its next phase of expansion."

    Divya Sehgal, Partner, True North said, "We are proud of the way the

company has utilised technology to its advantage, adopting a digital first

approach in navigating Covid-19. We welcome Warburg Pincus and look forward to

partnering with them in the upcoming journey of Home First."

    "Home First is excited to partner with Warburg Pincus in this new phase of

its journey.. True North has been a great support as we scaled from a small to

a mid-sized company. Our shared passion for tech, belief in sustainable growth

and strong governance has seen us thrive through several disruptive events,"

said Manoj Viswanathan, CEO, Home First.

    To know more about Warburg Pincus & Home First click here

[https://homefirstindia.com/app/uploads/2020/10/Press-Release.pdf ]

    Note:

Currency   Exchange rate as on March 31,2020(INR)  Exchange rate as on October 1, 2020 (INR)

  1 USD                                                         75.3859                                                           73.3834

    (Source for 1 USD: www.fbil.org and www.rbi.org.in ). Rate as on October

1,2020 is considered since October 2 was a public holiday.

    Disclaimer:

    Home First Finance Company India Limited is proposing, subject to receipt

of requisite approvals, market conditions and other considerations, to

undertake an initial public offer of its equity shares and has filed a draft

red herring prospectus dated November 28, 2019 ("DRHP") with the Securities and

Exchange Board of India on November 29, 2019. The DRHP is available on the

website of the SEBI at www.sebi.gov.in, the respective websites of the book

running lead managers, i.e., Axis Capital Limited, Credit Suisse Securities

(India) Private Limited, ICICI Securities Limited and Kotak Mahindra Capital

Company Limited at www.axiscapital.co.in,

https://www.creditsuisse.com/in/en/investmentbanking/regionalpresence/asiapacific/india/ipo.html ,

www.icicisecurities.com and http://investmentbank.kotak.com , respectively, the

website of the National Stock Exchange of India Limited at www.nseindia.com and

the website of BSE Limited at www.bseindia.com. Investors should note that

investment in equity shares involves a high degree of risk and for details

relating to such risk, see "Risk Factors" of the DRHP. Potential investors

should not rely on the DRHP for any investment decision.

    The Equity Shares of Home First have not been and will not be registered

under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act") or

any state securities laws in the United States, and unless so registered may

not be offered or sold within the United States, except pursuant to an

exemption from, or in a transaction not subject to, the registration

requirements of the U.S. Securities Act and applicable state securities laws.

Accordingly, such Equity Shares are being offered and sold (i) outside of the

United States in offshore transactions in reliance on Regulation S under the

U.S. Securities Act and the applicable laws of the jurisdiction where those

offers and sales occur; and (ii) to "qualified institutional buyers" (as

defined in Rule 144A under the U.S. Securities Act), pursuant to the private

placement exemption set out in Section 4(a) of the U.S. Securities Act. Neither

this release nor information on the website of Home First constitutes or forms

a part of any offer to sell or solicitation of an offer to purchase or

subscribe for such Equity Shares in the United States or elsewhere where such

offer, solicitation or sale would be unlawful.

    Logo: https://mma.prnewswire.com/media/1309509/HomeFirst_Logo.jpg 

    Source: Home First Finance Company India Ltd