On Monday, the biggest block deal is going to take place. The world’s largest private equity firm Blackstone is going to sell a 15% stake in a major IT company Mphasis.
As per ET report, the estimated value of this deal may reach Rs 6,697 crore. Which is the biggest deal second to British American Tobacco’s ITC stake sale, worth Rs 17,000.
Currently, Blackstone has 55.45% stake in Bengaluru based IT company as of March 2024.
But in aftermath of the deal, which is on June 10, the asset’s ownership stake in Mphasis will decrease to 40.4%, yet the company will remain the company’s largest shareholder.
Blackstone Group L.P is a New York-based American company, which provides financial services, alternative asset management and private equity.
This investment firm usually concentrates on investment strategies associated with hedge funds, credit, and private equity.