According to news reports, private equity firm Warburg Pincus has sold a 3.2 per cent stake in Bharti Tele Ventures for $306 million.
The block sale, which is India’s largest on record, was done at a 2.4 per cent discount to Bharti’s closing share price. This is Warburg’s second sale in Bharti in the past six months. The sale to a number of foreign funds seems to indicate a large profit for Warburg.
