Warburg Pincus Plans Over Rs 5,000 Crore Share Sale in IDFC First Bank and Bharti Airtel

7 Dec 2023 , 11:13 AM

IDFC First Bank shares are expected to be in focus as Warburg Pincus plans to offload a 1.3% stake through Cloverdell Investment in a block deal, exceeding Rs 5,000 crore in total share sale.

The move follows Warburg Pincus’ complete exit from Computer Age Management Services Ltd (CAMS) earlier this week. Cloverdell Investment, owned by Warburg Pincus, is set to sell the IDFC First Bank stake at Rs 85.70 apiece, totaling about $100 million.

At the end of the September quarter, Cloverdell Investment held 2.74% stake in IDFC First Bank, with the potential stake post-sale estimated at 1.44%, according to CNBC-TV18.

Reports also suggest Warburg Pincus considering share sales in Bharti Airtel through block deals, aiming to raise $211 million by selling 17.5 million shares at a floor price of Rs 1,005 apiece.

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