“Airtel will sell a 15% stake in the DTH business to Warburg Pincus entity Lion Meadow Investment for Rs 1,623.76 crore, the telecom firm said in a stock exchange filing on Tuesday. Another group company that holds 5% of Bharti Telemedia will offer its entire stake to the PE firm. The deal values Bharti Telemedia at close to Rs 11,300 crore. This may make it India’s second largest DTH player by valuation, according to industry experts,” reported The Economic Times.

AZB & Partners Delhi partner Anil Kasturi and partner Nandita Govind and senior associate Jaishree Tolani Lamba acted for private equity giant Warburg Pincus.

AZB & Partners Delhi partner Gautam Saha, meanwhile, led the team for Bharti - a group that has been a long-standing and nearly exclusive client of the firm’s office in M&A matters. Also included in the team were partner Dushyant Bagga and senior associate Swati Chauhan.

AZB Delhi managing partner Ajay Bahl commented: “Both are extremely valued relationships and we greatly value the confidence and trust reposed.”

Other than with AZB Delhi and Mumbai, Warburg has in the past also worked with many other firms including Shardul Amarchand Mangaldas, erstwhile Amarchand Mangaldas Mumbai,