In 1999, Warburg Pincus invested in Bharti Tele-Ventures (Bharti), one of the first private companies in India to launch cellular services. At the time of the investment, Bharti was one of the largest mobile operators in the world in terms of numbers of subscribers. Warburg Pincus led one of the most successful private equity transactions of scale to date in India by investing in Bharti. In 2002, Bharti completes an IPO on the Bombay Stock Exchange. As part of exiting the investment in 2004, Warburg Pincus and Bharti executed one of the largest block trades on an Indian Stock Exchange. In 2005, Warburg Pincus sold its remaining shares in Bharti.
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