In another major development for the insurance space, Bharti Group is in talks with prospective buyers to exit its insurance venture. Bharti AXA Insurance is a joint venture between Bharti Group and AXA Group.
The Bharti Group has many times in the past mulled selling its stake in the insurance business, though the group believes only now is the right time as growth in this sector is picking, say sources with direct knowledge of the development.
Deal which could be a cash booster for Bharti Group is pegged to be around Rs 3000-4000 crore, which will help Bharti Group to monetise its insurance business and aid its telecom venture Bharti Airtel