New Delhi, May 28 -- Warburg Pincus has entered the final lap of negotiations for a minority stake in engineering services outsourcing firm Quest Global, while American private equity firm TA Associates has emerged as the frontrunner to acquire a controlling stake in Mumbai-based pharma company Samarth Lifesciences.
Separately, West Bengal's Durgapur-based Healthworld Hospitals has roped in consulting firm Merfin Advisors to help raise fresh funding, according to separate media reports.
Quest Global, Warburg Pincus
Warburg Pincus is in preliminary talks to pick up a minority stake in Carlyle-backed independent pure-play engineering services outsourcing firm Quest Global, Moneycontrol reported, citing people aware of the matter.
Should the deal materialise, it would mark Quest Global's second pre-IPO fundraise in 2026 and a return of Warburg Pincus after a 16-year gap. The firm had previously backed the Singapore-headquartered company in 2010 before exiting to other PE investors.
The development comes just three months after Quest Global closed a minority investment from Hillhouse Investment, which comprised a primary capital infusion alongside a secondary share purchase from select existing shareholders.
The report estimated that Hillhouse transaction involved a 5% stake sale at $4.5 billion valuation.
TA Associates, Samarth Lifesciences
American private equity firm TA Associates has emerged as the frontrunner to acquire a controlling stake in Mumbai-based pharma company Samarth Lifesciences, entering exclusive negotiations with the promoter group, Moneycontrol reported, citing people aware of the matter.
The current plan involves handing over control to an incoming investor, with the family likely retaining a partial stake. The company could be valued upwards of Rs 4,000 crore (around $418 million), per the report.
Other PE majors including EQT, TPG, KKR and Warburg Pincus previously exited the stake sale negotiations over valuation differences, per a separate media report last month.
Healthworld Hospitals
West Bengal's steel city Durgapur-based Healthworld Hospitals has roped in consulting firm Merfin Advisors to help raise around $25 million (around Rs 239 crore), DealStreetAsia reported, citing people aware of the matter.
The West Bengal-based operator runs three hospitals, two in Durgapur and one in Asansol, alongside nine outreach clinics in surrounding towns.
The hospital chain is looking for funding to expand its operations, per the report. Its network covers tertiary and secondary care across multiple specialties, with integrated diagnostics, pharmacy, and a dedicated mother-and-child unit.
Sunil Bharti Mittal, BT Group
The UK government is set to oppose any attempt by Sunil Bharti Mittal to raise his stake in telecoms major BT Group, to maintain sovereign control over "critical national infrastructure", Financial Times reported, citing people aware of the matter.
The stance would limit the Indian billionaire's influence over BT, whose broadband infrastructure arm Openreach provides fibre connectivity to over 22 million homes across Britain.
Mittal's Bharti Enterprises acquired a 24.5% stake in BT in 2024 from French-Israeli billionaire Patrick Drahi, since then nudging up its holding to 24.95%. Any move beyond the 25% threshold would require government approval, which British officials have made clear they intend to block, per the report.
Published by HT Digital Content Services with permission from VC Circle.