Retail group Future has exited India-based financial firm First Capital, two years after divesting much of its stake to Warburg Pincus.
India-based retail conglomerate Future Group has sold its remaining holdings in non-banking financial company Capital First on the open market for a total of Rs 1.33bn ($22m).
Future Group previously held 9.2% of Capital First, formerly known as Future Capital. Future Retail, the retail arm of Future Group, sold the 7.8% it owned for Rs 1.13bn ($19.4m) and Future Group’s private promoter holding arm sold its 1.4% for Rs 200m ($3.4m).
In June 2012 private equity firm Warburg Pincus became…
