Blackstone sells Mphasis tranche in early Monday trade
₹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.
Read more on livemint.com
