Warburg Pincus pares 1.3% stake in IDFC FIRST Bank

New Delhi: Warburg Pincus on Thursday divested a 1.3% stake in private lender IDFC FIRST Bank through an open market transaction for Rs 790 crore. Following the stake sale, shares of IDFC FIRST Bank declined 3.02% to close at Rs 87.69 apiece on the BSE. Dayside Investment, an affiliate of US-based private equity firm Warburg Pincus, offloaded more than 9.17 crore shares of IDFC FIRST Bank on the BSE. pti

New Delhi

Goods’ exports surpass services sector in FY23

The merchandise (goods) exports has surpassed the services sector for the first time in FY 2022-23. This was announced by Electronics and IT Minister Ashwini Vaishnaw on Thursday. He said this had been possible due to the Make in India initiative of Prime Minister Narendra Modi. India recorded exports of $762 billion in the last fiscal, out of which merchandise exports contributed $453 billion while services sector contributed $309 billion.