True North has acquired a controlling stake in Home First Finance Company Private Limited (HFFC), a housing finance company engaged in providing affordable housing loans to low and middle income groups for about $100 million (Rs. 667 crore)..The transaction is a combination of a fresh issue and a secondary sale. Out of the $100 million, True North will invest about half in the company and the rest will be paid to existing shareholders, reported VCCircle..DealTrue North acquires controlling stake in HFFCValue$100 millionDeal typeM&ASectorHousing financeLaw FirmsBessemer Venture Partners – Nishith Desai Associates; HFFC – Cyril Amarchand Mangaldas; True North – DSK LegalPartners/HeadsNDA – Nischal Joshipura; CAM- Vandana Sekhri; True North- Hemang Parekh, Narendra Digankar.True North was advised by DSK Legal through a team led by Partners Hemang Parekh and Narendra Digankar along with Senior Associate Anupam Shukla..HFFC was advised by Cyril Amarchand Mangaldas through a team led by Partner Vandana Sekhri..The existing shareholder, Bessemer Venture Partners was represented by Nishith Desai Associates through a team led by Partner Nishchal Joshipura along with Associate Aishwarya H..Follow Bar and Bench channel on WhatsAppDownload the Bar and Bench Mobile app for instant access to the latest legal news.
