Warburg sells Bharti shares for Rs 961 cr

Warburg Pincus, a global equity investor, has sold 3.35 per cent stake in Bharti Tele-Ventures Ltd (BTVL), operators of Airtel, in a block deal valued at Rs 961 crore.

Pincus sold Rs 6.2 crore shares to a group of around 20 foreign institutional investors (FIIs). Warburg Pincus initially held a 18.52 per cent stake in BTVL, which will now reduce to 15.17 per cent.

In a statement to the BSE, BTVL said: ‘‘Brentwood Investment Holdings as on August 13, 2004 holds 28.12 crore equity shares equivalent to 15.17 per cent of the total paid up capital of BTVL.’’ Warburg Pincus has made the investment in BTVL through Brentwood Investment Holdings. Following this deal, the free float for the BTVL stock has increased from 12 to 15 per cent.