Bangalore: The Global Private Equity firm from USA, Warbug Pincus has taken its hands off of another Indian investment by shedding as much as 24.5% of stake from Moser Baer. Global Town Investment firm bought the share from the 33% Warbug Pincus hold at Mosaer Baer, in an off-market transfer as reported by DealCurry .

"We have got a disclosure that Warburg Pincus has sold out a large chunk of its stake in Moser Baer India Limited. We believe that it is in line with the policy if PE funds under which they typically exit any investment in 7-10 years," Moser Baer answered to a query from Economic Times.

The optical storage manufacturing company, Moser Baer had raised $149 Million from Warbug Pincus in 2004. The company though continues its relations with institutional investors like IFC and Winterfall. Global Town Investment Ltd acquired all of the equity share capital of each of Bloom Investments (5.7 per cent), Ealing Investments (5.7 per cent) and Woodgreen Investment (13.10 per cent) from Warburg Pincus International Partners, Warburg Pincus Equity Partners and their affiliate funds, Mosaer Baer said in their BSE filing.

“Moser Baer has recently approached bankers to restructure its payment obligations and align its secured liabilities with its business growth and cash flows. It also has two FCCBs worth $43Mn and $45.5Mn maturing in June. The first bond has a conversion price of R407.64, the second is at R363.96. MoserBaer had raised $150Mn through two FCCB issues in 2007,” reports DealCurry, pointing the future prospects left with Moser Baer.