Blackstone Sells 15% Stake in Mphasis: A Landmark Block Deal

Blackstone, a major global investment firm, has divested a 15.08% stake in IT and consulting firm Mphasis for Rs 6,735 crore. This transaction marks the second-largest block deal of the year. Despite the sale, Blackstone remains the largest shareholder, now holding a 40.37% stake in the company.

Global investment giant Blackstone made headlines on Monday with the divestment of a significant 15.08% stake in information technology and consulting firm Mphasis. The transaction, executed via an open market sale on the National Stock Exchange (NSE), fetched Rs 6,735 crore.

NSE bulk deal data disclosed that Blackstone, through its affiliate BCP Topco IX Pte, offloaded 2.85 crore equity shares at an average price of Rs 2,363.37 per share. Despite this sizeable divestment, Blackstone retains the largest shareholding in Mphasis, now at 40.37%, down from 55.45%.

The transaction ranks as the second-largest block deal of the year, trailing only behind British American Tobacco's (BAT) Rs 17,485 crore divestment in ITC. Meanwhile, Kotak Mahindra Mutual Fund, Morgan Stanley Asia Singapore Pte, and Societe Generale collectively acquired 80.32 lakh shares of Mphasis, with additional buyer details unverified. Shares of Mphasis closed 2.99% lower on the NSE, ending at Rs 2,398 per piece.

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