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Warburg sells 3.3% stake in Bharti
By siliconindia
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Thursday, 03 February 2005, 20:30 IST
NEW DELHI: Warburg Pincus, private equity firm, traded off its 3.3 percent stake of Bharti televentures ltd. on Wednesday for a total deal size of 
1300 crore.
Warburg had 14.42 percent stake in Bharti; and this is the second time it has sold 6.3 crore shares at Rs 216 per share. This was at a 2.96 percent discount to the previous closing price. As on December 31, 2004, Brentwood Investment Holding (the company through which Warburg Pincus had made the investment) held 28.1 crore shares or a 15.2 percent stake in Bhart. Following this deal, Brentwood continues to retain 11.9 percent in BTVL. This stake is valued at $1.1 billion.
According to information released by BSE on its website, one of the buyers in this block deal was Morgan Stanley International and the seller was Brentwood Investment Holding. Brentwood sold BTVL shares in two tranches of 3.9 crore shares and 2.4 crore shares while Morgan Stanley bought 2.1 crore shares.
Bharti has posted a 131 percent jump in profit to 373 crore in the quarter ending December over the same period last year.
1300 crore.
Warburg had 14.42 percent stake in Bharti; and this is the second time it has sold 6.3 crore shares at Rs 216 per share. This was at a 2.96 percent discount to the previous closing price. As on December 31, 2004, Brentwood Investment Holding (the company through which Warburg Pincus had made the investment) held 28.1 crore shares or a 15.2 percent stake in Bhart. Following this deal, Brentwood continues to retain 11.9 percent in BTVL. This stake is valued at $1.1 billion.
According to information released by BSE on its website, one of the buyers in this block deal was Morgan Stanley International and the seller was Brentwood Investment Holding. Brentwood sold BTVL shares in two tranches of 3.9 crore shares and 2.4 crore shares while Morgan Stanley bought 2.1 crore shares.
Bharti has posted a 131 percent jump in profit to 373 crore in the quarter ending December over the same period last year.