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Bharti Airtel seeks $1.5 bn from Warburg; PE firms eye stake in GVK Airport
Sunil Bharti Mittal | Photo Credit: Shah Junaid/VCCircle

Billionaire Sunil Bharti Mittal-led Bharti Airtel Ltd is in talks with private equity giant Warburg Pincus to raise around $1.25-1.5 billion by selling 10-15% stake in the Bharti Airtel International (Netherlands)BV, The Economic Times reported citing two people aware of the development.

Bharti Airtel International (Netherlands) is the holding company for the Africa operations of Bharti Airtel.

Subsequently, Bharti Airtel is planning a public listing of the Africa unit in the overseas market, the report added.

In February, Bharti Airtel had said that Airtel Africa had initiated talks with banks and intermediaries to list on an international stock exchange.

Operating in 14 African countries, the unit’s total revenue stood at Rs 20,156.4 crore and net profit was Rs 1,827.2 crore in the year through March 2018.

In December 2017, Warburg Pincus had agreed to pick up a 20% stake in the direct-to-home television arm of Bharti Airtel Ltd for $350 million (Rs 2,259 crore) .

GVK Airport’s stake sale

Hyderabad-based GVK group has held talks with global investors to sell a minority stake in its airports holding company GVK Airport Holdings Pvt. Ltd, The Economic Times reported citing three people aware of the development.

Qatar Investment Authority, AMP Capital, Global Infrastructure Partners and Canada Pension Plan Investment Board were among the investors who held discussions with the GVK group, the report said.

GVK will use the funds from the stake sale for its investment in Navi Mumbai airport. It holds 50.5% in Mumbai International Airport Ltd (MIAL), operated by a consortium, through GVK Airport Holdings. MIAL, which holds 74% stake in Navi Mumbai International Airport, won the bid to develop the Rs 16,000-crore project, the report added.

Investment bank Citi Group will advise GVK on the stake sale, ET reported.

In 2017, GVK Power & Infrastructure sold its remaining 10% stake in Bangalore International Airport to India-born Canadian billionaire Prem Watsa-led Fairfax group for Rs 1,290 crore ($200 million).

PharmEasy in talks to raise funds

Mumbai-based online drug delivery platform PharmEasy is in talks with investors to raise $40-50 million, The Economic Times reported.

Growth capital firm The Fundamentum Partnership and Fidelity International’s investment arm Eight Roads Ventures are reportedly in discussion to lead the funding round in PharmEasy, the report added, citing five people aware of the development.

The Fundamentum Partnership is an investment company floated by Infosys co-founder Nandan Nilekani and Helion Ventures co-founder Sanjeev Aggarwal.

The company’s existing investors could also participate in the latest round, the report said.

Run by 91 Streets Media Pvt. Ltd, the e-pharmacy startup last raised funds in February this year. It secured Series C funding led by existing investors Bessemer Venture Partners and Orios Venture Partners.

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