In the biggest deal ever in the Indian stock market, private equity firm Warburg Pincus has reportedly sold 6 per cent of its equity in Bharti Tele Ventures for about $560 million. A total of 110 million shares were sold in two block deals at Rs 218 and Rs 223.90 per share respectively. The transaction was nearly equal to the average daily value of all shares traded on the Bombay Stock Exchange. While it is not known who has bought the shares in Bharti, Warburg Pincus still holds 108.1 million shares after the sale, representing 5.8 per cent stake in Bharti Tele Ventures. In a related development, the chairman and managing director of Bharti Tele Ventures, Sunil Bharti Mittal, has also sold 2.75 million shares held by him directly as portfolio investment for over Rs 600 million. The shares constitute about 0.15 per cent of the company’s total paid-up capital.
