Latest News | Warburg Pincus Sells Bharti Airtel Shares for Rs 1,649 Crore
Get latest articles and stories on Latest News at LatestLY. Warburg Pincus on Friday sold shares of telecom major Bharti Airtel for Rs 1,649 crore through an open market transaction.
New Delhi, Jun 30 (PTI) Warburg Pincus on Friday sold shares of telecom major Bharti Airtel for Rs 1,649 crore through an open market transaction.
Lion Meadow Investment Ltd, an affiliate of private equity firm Warburg Pincus disposed of shares of Bharti Airtel.
According to the block deal data available with the BSE, Lion Meadow offloaded 1,90,00,000 shares, amounting to 0.32 per cent stake in Bharti Airtel.
The shares were disposed of at an average price of Rs 868 apiece, taking the aggregate transaction size to Rs 1,649.20 crore.
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These shares were acquired by funds/ affiliates of US-based financial services company Capital Group in 11 tranches.
On Friday, shares of Bharti Airtel gained 0.80 per cent to close at Rs 879 apiece on BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)