Warburg Pincus in talks to sell stake in IT firm Encora

Warburg Pincus is in early-stage negotiations to sell a controlling stake in Encora, a US-headquartered Indian-origin IT services firm it owns, taking advantage of a deal spree in the sector in recent months, people in the know said.

The private equity firm, which owns 80% of the company, has reached out to funds including Blackstone, Baring Private Equity Asia, KKR, Carlyle, Bain Capital as well as Silverlake Partners to sell its entire stake in a deal valuing the firm at around $1.5 billion (Rs 11,260 crore), they said.