Blackstone and Bain Capital Shed Stakes in Tech and Pharma Giants

Blackstone sold a 9.5% stake in IT firm Mphasis for Rs 4,726 crore, reducing its holding to 30.64%. Meanwhile, Bain Capital cut its share in Emcure Pharmaceuticals from 6.3% to 3.87% after selling a 2.43% stake for Rs 610 crore. Both transactions occurred via open market sales.

On Tuesday, global investment firm Blackstone sold a significant 9.5% stake in information technology and consulting company Mphasis, fetching Rs 4,726 crore through open market transactions. The shares were sold by BCP Topco IX Pte, an affiliate of Blackstone, drastically reducing its stake from 40.10% to 30.64%.

Major mutual fund houses including HDFC MF, ICICI Prudential MF, and Kotak Mahindra MF acquired a 3.71% stake in Mphasis for a total of Rs 1,857.30 crore. The market responded with Mphasis shares dropping 1.10% to close at Rs 2,659.70 apiece on the BSE.

In another bulk deal, Bain Capital divested a total of 46 lakh shares, converting to a 2.43% stake in Emcure Pharmaceuticals, raising Rs 610 crore. Post-sale, Bain's holding in Emcure decreased to 3.87% from 6.30%, with shares falling 2.52% to Rs 1,360.30 on the BSE.

(With inputs from agencies.)