Blackstone Divests 15% Stake In Mphasis For Rs 6,735 Cr
The transaction saw Blackstone’s affiliate BCP Topco IX Pte offload 2.85 crore equity shares
Global investment firm Blackstone has divested a 15 per cent stake in information technology and consulting company Mphasis.
The transaction, conducted through an open market sale on the National Stock Exchange (NSE), saw Blackstone’s affiliate BCP Topco IX Pte offload 2.85 crore equity shares. Each share was sold at an average price of Rs 2,363.37, bringing the total value of the deal to Rs 6,735.60 crore.
Prior to this sale, Blackstone held a 55.45 per cent stake in Mphasis. Post-divestment, this has reduced to 40.37 per cent, yet Blackstone continues to be the largest shareholder in the firm. Despite the significant reduction in its holdings, the investment firm maintains a controlling interest.
This divestment is notable not only for its scale but also for its timing. It represents the second-largest block deal of the year, surpassed only by British American Tobacco’s (BAT) divestment of a 3.5 per cent stake in ITC for Rs 17,485 crore.
