Warburg Pincus has sold off its 0.32 per cent stake in Bharti Airtel for Rs 16.49 billion through an open market transaction. Lion Meadow Investment Limited, an affiliate of private equity firm Warburg Pincus disposed of the shares in Airtel.
According to the block deal data available with the Bombay Stock Exchange (BSE), Lion Meadow offloaded 19,000,000 shares, amounting to a 0.32 per cent stake in Airtel. The shares were disposed of at an average price of Rs 868 per share, taking the aggregate transaction size to Rs 16.49 billion.
These shares were acquired by funds/affiliates of US-based financial services company Capital Group in 11 tranches.
