Mumbai-based private lender Home First Finance Company is looking to sell 30% stake for Rs 250 crore to fund operations, valuing the company at Rs 850 crore, people aware of the matter said.
Founded by former Mphasis chairman Jaithirth Rao and Bank of Baroda managing director PS Jayakumar, the Mumbai-based company provides loans of Rs 1-30 lakh, mostly to firsthome buyers. “HFFC is in the process of raising capital for its growth. We are in discussions with potential investors,” said Manoj Viswanathan, chief executive of Home First Finance Company. The company started operations in 2010 and a year later it raised funds from Bessemer Ventures. Later, it attracted funding from Tata Capital Growth Fund as well.