Warburg Pincus sells Bharti Airtel shares for Rs 1,649 crore; Capital Group purchases
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. These shares were acquired by funds/ affiliates of US-based financial services company Capital Group in 11 tranches.
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.
Among the companies that purchased shares of Bharti Airtel were- Euro Pacific Growth Fund (64.13 lakh shares), New World Fund Inc (42.61 lakh shares), American Funds Insurance (13.75 lakh shares), Capital Group (4.23 lakh shares).
In total, these buyers purchased 186.98 lakh shares of the Indian telecom giant for a buy size of Rs 1622 crore. All the buy transactions were done at Rs 868 per share.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.