Warburg Pincus sells stake in ICICI Lombard

MUMBAI: American private equity firm Warburg Pincus on Tuesday sold 3.15 per cent stake in insurance company ICICI Lombard General Insurance to raise about Rs 1,577 crore, according to NSE data. Warburg Pincus firm Red Bloom Investment sold a total of 1.43 crore shares at a price of Rs 1100.2 per share. Shares of the general insurance company declined 6.22 per cent to Rs 1102.5 on Tuesday.