Warburg Pincus, the private equity behemoth, is said to be considering a takeover of Nuvama Wealth Management's controlling stake, as existing owner PAG weighs a strategic exit. The Hong Kong-based investment group, which bought 54% of Nuvama in 2021, has hired Citi to sound out potential acquirers.
Key Highlights:
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Warburg Pincus in talks to acquire PAG's 54% stake in Nuvama Wealth at preliminary stages.
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PAG's stake worth of $1.2–1.4 billion indicates a ₹20,000 crore valuation of the company.
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Nuvama oversees assets valued at ₹3 trillion and operates in 90 branches.
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Stock response: Nuvama shares rose 3% upon an announcement of a potential sale of shares.
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Regulatory clearances from RBI & SEBI if the deal is pursued.
This potential acquisition would solidify Warburg Pincus' financial services footprint in India, complementing its recent investments in IDFC First Bank.
Source: VCCircle | BusinessWorld | PrivateBankerInternational