Warburg Pincus is in advanced discussions to sell its 10% stake in SBI General Insurance in a deal that would value the the business at over $4.5bn, according to a Bloomberg News report, as the US PE firm seeks an exit from its 2019 investment in the Indian insurer.
Potential buyers include Premji Invest, the family office of Indian billionaire Azim Premji, and State Bank of India (SBI), which already holds a 70% stake in the general insurer. The transaction could value SBI General Insurance at up to $4.5 billion, highlighting growing investor interest in India’s financial services sector.
Warburg and Premji Invest originally acquired their stakes in SBI General for a combined $432m in 2019, with Premji Invest holding a 16.01% stake. A successful exit at current valuations would mark a significant return for Warburg Pincus.
