Warburg Pincus Sells Partial Stake in ICICI Lombard for USD227 Million

Source(s): Economic Times, National Stock Exchange of India

Global private equity fund manager Warburg Pincus has sold a 3.2 percent stake in India-listed insurance company ICICI Lombard General Insurance. Warburg sold approximately 14 million shares for INR1,100 (USD16) per share, returning INR15.8 billion (approximately USD 227 million). Warburg, which originally invested in ICICI Lombard in 2017, still holds a 2.7 percent stake in the company.