Blackstone sells Mphasis tranche in early Monday trade

Blackstone sold 29.5 million shares in Mphasis Ltd, amounting to a 15.6% stake, via a block deal early on 10 June, as per data on Bloomberg terminal.

With this, Blackstone has sold shares amounting to 7,066 crore in the information technology services company.

Mphasis shares were trading down 2.51% at 2,409.85 apiece at 9.40 am on Monday, a strong market day with the benchmark Sensex opening at a record 77,000 points.

This is Blackstone’s second move at selling Mphasis shares, this time through the open markets.

Blackstone Capital Partners first acquired a 60.48% stake in Mphasis from Hewlett Packard Enterprises in 2016 for 5,466 crore (at the time, $827 million). 

After failing to sell its Mphasis shares through a private deal, Blackstone rolled over its stake in the company to a new fund in April 2021. 

At the time, Blackstone along with Abu Dhabi Investment Authority (ADIA), GIC, UC Investments, and others, acquired a majority stake in Mphasis for around 21,000 crore (around $2.8 billion).  

Blackstone declined to comment on Monday. Bengaluru-based Mphasis provides information technology services, including business process outsourcing services.

3.6 Crore Indians visited in a single day choosing us as India’s undisputed platform for General Election Results. Explore the latest updates here!

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.


Published: 10 Jun 2024, 10:10 AM IST

Leave a Comment