Warburg Pincus LLC is reportedly in talks to sell its 29% stake in WNS (Holdings) Ltd. to The Carlyle Group LP, Baring Private Equity Asia (Barings India) and Kohlberg Kravis Roberts & Co. (KKR), two people with direct knowledge of the development said. “The private equity funds have recently started the formal due-diligence to put in bids by the first week of February,” said one of the two persons quoted above.

WNS is reportedly valued at $525 million and Warburg Pincus is reportedly seeking a 50% premium to the current market value which will bolster its value to $787.5 million, so the buyer will have to pay INR 12.56 billion for the stake. The Times of India reported that while Carlyle and KKR declined to comment, Barings India did not respond to an email questionnaire. "WNS did not want to comment on speculation relating to individual shareholders," WNS' Chief Executive Officer, Keshav Murugesh said.

"The firm is bound by internal operational policies, which does not allow discussion of deal-related investment activities," Warburg Pincus said in an emailed response to The Times of India.