New Delhi: Global investment firm Blackstone, the promoter of Mphasis, on Monday sold 15.08 per cent stake in the information technology and consulting company for Rs 6,735 crore through an open market transaction on the National Stock Exchange (NSE).
According to bulk deal data available with NSE, US-based Blackstone sold 2.85 crore equity shares through its associate BCP Topco IX Pte, equivalent to 15.08 per cent stake in the IT and consulting firm.
Each share was settled at an average of Rs 2,363.37, taking the value of the transaction to Rs 6,735.60 crore.
After the stake sale, Blackstone's stake in Mphasis has reduced from 55.45 percent to 40.37 percent. However, it will remain the largest shareholder in the firm.
This is the second biggest block deal of the year.
The largest disinvestment was of 3.5 per cent stake in ITC by British American Tobacco (BAT) for Rs 17,485 crore.
Meanwhile, Kotak Mahindra Mutual Fund, Morgan Stanley Asia Singapore Pte and Societe Generale bought a total of 80.32 lakh shares of Mphasis.
The shares were bought at an average price of Rs 2,363 per share, taking the deal value to Rs 1,898.04 crore.
Details of other buyers could not be ascertained.
Shares of Mphasis closed 2.99 per cent lower at Rs 2,398 per piece on the NSE.
Mphasis is a leading provider of information technology services specializing in cloud and digital solutions.
In April 2016, Blackstone announced that private equity funds managed by the investment firm had entered into a definitive agreement with Hewlett Packard Enterprise to purchase a majority – 60.5 percent – stake in Mphasis Limited.
The deal was the largest acquisition by Blackstone in India.
According to bulk deal data available with NSE, US-based Blackstone sold 2.85 crore equity shares through its associate BCP Topco IX Pte, equivalent to 15.08 per cent stake in the IT and consulting firm.
Each share was settled at an average of Rs 2,363.37, taking the value of the transaction to Rs 6,735.60 crore.
After the stake sale, Blackstone's stake in Mphasis has reduced from 55.45 percent to 40.37 percent. However, it will remain the largest shareholder in the firm.
This is the second biggest block deal of the year.
The largest disinvestment was of 3.5 per cent stake in ITC by British American Tobacco (BAT) for Rs 17,485 crore.
Meanwhile, Kotak Mahindra Mutual Fund, Morgan Stanley Asia Singapore Pte and Societe Generale bought a total of 80.32 lakh shares of Mphasis.
The shares were bought at an average price of Rs 2,363 per share, taking the deal value to Rs 1,898.04 crore.
Details of other buyers could not be ascertained.
Shares of Mphasis closed 2.99 per cent lower at Rs 2,398 per piece on the NSE.
Mphasis is a leading provider of information technology services specializing in cloud and digital solutions.
In April 2016, Blackstone announced that private equity funds managed by the investment firm had entered into a definitive agreement with Hewlett Packard Enterprise to purchase a majority – 60.5 percent – stake in Mphasis Limited.
The deal was the largest acquisition by Blackstone in India.
