Warburg Pincus affiliates up stake in Moser Baer

MUMBAI: Affiliates of private equity investor Warburg Pincus LLC have hiked their stake in optical storage media company Moser Baer India to 33.75 per cent through conversion of 47,500 Global Depository Receipts (GDRs).

A clutch of investors led by Woodgreen Investment along with Bloom Investments, Ealing Investments, Randall Investments and Elm International (all are affiliates of Warburg Pincus) acquired an additional 4.26 per cent stake in Moser Baer, a regulatory filing on the BSE shows.

The acquisition of shares was reported on March 31 with each GDR representing 100 underlying equity shares, leading to 47.50 lakh equity shares.

From around 3.29 crore shares representing 29.49 per cent stake earlier, Warburg Pincus affiliates now holds approximately 3.76 crore shares.

Moser Baer India recently acquired 40 per cent equity stake in Slovenia-based Solarvalue Proizvodnja for its photo voltaic business.