Westbridge, Sequoia, Cisco buy 10% stake in Bharti

Bharti Group on Monday offloaded 10 per cent of its stake in Bharti Telesoft to a group of investors led by Westbridge Capital for $13.5 million.

Westbridge Capital has invested $8 million, followed by Sequoia Capital $3 million and Cisco $2.5 million, Bharti Enterprises vice chairman Rakesh Mittal said.

While the Goldman Sachs-backed WestBridge has previously invested in Indian companies, it was the first time for the Silicon Valley-based venture fund Sequoia Capital.

Bharti Telesoft, a 100 per cent subsidiary of Bharti Enterprises, provides value added solutions to wireless and wireline companies.