Bharti Airtel, IDFC First Bank fall as Warburg Pincus set to sell its stake in cos
Warburg Pincus can sell 1.75 crore shares, or 0.31 per cent stake, in Bharti Airtel at a floor prize of Rs 1,005, or at a 1.8 per cent discount. The deal size is estimated to be Rs 1,758 crore. Warburg Pincus is set to sell its 1.3 per cent stake in IDFC Bank through a block deal. The deal is at a floor price of Rs 85.2, or at a 5.8 per cent discount to CMP. The deal size is estimated to be Rs 834 crore.
Bharti Airtel Share Price: Shares of Bharti Airtel and IDFC Frist Bank were off to a poor start on BSE on Thursday (December 7, 2023) after their common investor Warburg Pincus reportedly said it could sell its stake in both the companies.
Shares of Bharti Airtel were trading down by 1.37 per cent, or Rs 14.05, at Rs 1009.90 each, while the stock of IDFC First Bank was down by 2.90 per cent, or Rs 2.62, at Rs 87.80 each at 9:40 am on Thursday.
Warburg Pincus LLC is a leading global growth investor. The firm has an active portfolio of more than 215 companies and is headquartered in New York.
What is Warburg Pincus-Bharti Airtel deal?
Warburg Pincus can sell 1.75 crore shares, or 0.31 per cent stake, in Bharti Airtel at a floor prize of Rs 1,005, at a 1.8 per cent discount. The deal size is estimated to be Rs 1,758 crore.
What is Warburg Pincus-IDFC First Bank deal?
Warburg Pincus is set to sell a 1.3 per cent stake in the bank through a block deal. It is dealing at a floor price of Rs 85.2, at a 5.8 per cent discount to CMP. The deal size is estimated to be Rs 834 crore.
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.