Warburg Pincus exits Indian jeweler at a loss
Warburg Pincus has sold its 28.12% stake in Vaibbav Gems for INR18.million ($4.1 million) through an open market transaction, the US-based private equity firm confirmed, in an exit that comes at a significant loss to Warburg Pincus’ initial investment.
Warburg Pincus initially acquired a 27.29% stake in the company in December 2005, for INR20.1 billion ($446 million). It then increased its stake by 5.31% through an open offer, boosting its total holding...
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