An affiliate of private equity firm Warburg Pincus sold a 25 percent stake in Indian non-bank lender Capital First Ltd (CAPF.NS) for 17.67 billion rupees ($275.4 million) in stock market transactions on Wednesday.

The Warburg affiliate, Cloverdell Investment Ltd, sold 24.3 million shares at an average price of 727.35 rupees apiece, according to BSE stock exchange data.

After the deal, Warburg Pincus’ stake will come down to 36 percent, Capital First said in a separate statement. Local and foreign investors bought the stake sold by the Warburg affiliate, it said.

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