Private equity (PE) firm Warburg Pincus has bought a 14% stake in PVR Ltd, India’s largest multiplex chain, for Rs 820 crore through an open market transaction. Warburg Pincus bought the stake from existing investor Multiples Alternate Asset Management, which sold a 9% stake, and the promoters of PVR, including chairman and managing director Ajay Bijli. The sale values the company at around Rs 5,860 crore. AZB & Partners acted for the seller Multiples Alternate Asset Management Pvt Ltd, led by senior partner Ashwath Rau, and partner Dhruv Singhal. Multiples Alternate Assets sold a 9% stake. Shardul Amarchand Mangaldas Delhi partner Akila Agrawal led for PVR’s promoters, including chairman and managing director Ajay Bijli, who sold a 5% stake. Shardul Amarchand managing partner Akshay Chudasama led for the buyer Warburg. PVR did not use external counsel in this deal.