Warburg Pincus has raised $310 million from a second divestment in Bharti Televentures and out of what is fast becoming Asia's most active equity market. DSP Merrill Lynch and JM Morgan Stanley led the deal, which represented 3.2% of the Bharti's issued share capital and reduced Warburg Pincuses stake from 15.2% to 12.1%.
Block trades from India are fairly unusual thanks to the regulator's crossing requirements. However, this marks the private equity firm's second divestment. Last August it sold a 3.35% stake via Citigroup, which raised $202 million of which half is thought to have been placed with the Capital Group.
This time round about 41 investors...
