Warburg Pincus Sells Bharti Airtel Shares, Fetching Rs 1,649 Crores
In a recent open market transaction, Warburg Pincus, a renowned private equity firm, has successfully sold its shares of the prominent telecom company, Bharti Airtel, fetching a substantial amount of INR 1,649 crores.
The sale was conducted through Lion Meadow Investment Ltd, an affiliate of Warburg Pincus, and involved the disposal of 1,90,00,000 shares, which represents a 0.32 percent stake in Bharti Airtel, as reported by the Bombay Stock Exchange (BSE).
The average price at which the shares were sold stood at INR 868 per share, resulting in a total transaction size of INR 1,649.20 crores.
These shares were subsequently acquired by funds and affiliates of Capital Group, a leading US-based financial services company, in a series of eleven tranches.
Closing at INR 879 per share on the BSE, Bharti Airtel’s stock witnessed a 0.80 percent increase on Friday.
About Bharti Airtel:
Bharti Airtel Limited is a telecommunications services company headquartered in New Delhi, India. It has operations in 18 countries spanning South Asia, Africa, and the Channel Islands.
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