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Warburg's SBI Gen bet set to double
Hindustan Times Navi Mumbai
|May 03, 2025
Global private equity firm Warburg Pincus is looking to sell its 10% stake in SBI General Insurance in a deal expected to fetch it more than double the value of its six-year-old investment, two people with knowledge of the development said.
MUMBAI:
The sale is likely to fetch the US-based Warburg Pincus about $350 million, they said.
Warburg Pincus and Premji Invest, the family office of Wipro Ltd's founder Azim Premji, bought a 26% stake in SBI General Insurance for $432.38 million in 2019, valuing the insurer at $1.66 billion.
They had acquired the stake from Insurance Australia Group Ltd, which had formed SBI General Insurance as a joint venture with State Bank of India (SBI) in 2010.
This story is from the May 03, 2025 edition of Hindustan Times Navi Mumbai.
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