Norwegian Fund Sells Stake in Home First Finance

The Government Pension Fund Global of Norway has sold shares worth Rs 77 crore in Home First Finance through an open market transaction. This sale decreases their holding in the Mumbai-based company from 6.25% to 5.41%. The fund is one of the largest globally.

In a significant move, Norway's Government Pension Fund Global divested its shares in Home First Finance, fetching Rs 77 crore in the open market on Tuesday.

Ranked among the largest global funds, the Norwegian giant reduced its stake from 6.25% to 5.41% by selling 7.50 lakh shares at an average price of Rs 1,023.28 each.

The transaction, disclosed via the National Stock Exchange's bulk deal data, saw Home First Finance's share price increase by 2.12% to Rs 1,040 per share, though the buyer's identity remains unknown.

(With inputs from agencies.)