Warburg Pincus sells shares of telecom major Bharti Airtel for Rs 1,649 cr

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.

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.