Blackstone acquires 4.01% stake in Mphasis

The shares have been acquired at an average price of Rs 696

Blackstone Group, Mphasis, Hewlett Packard, Acquire stake

Blackstone has acquired 4.01% stake in Mphasis for a consideration of around Rs 525 crore ($69 million).

The company has acquired around 7.48 million shares through its unit Marble-II during March 2020.

The shares have been acquired at an average price of Rs 696. With this, Blackstone’s holding in the company has grown to 56.21% from 52.20%.

In 2016, Blackstone had acquired 60.5% stake in Mphasis from Hewlett Packard Enterprise for $1 billion, in the largest acquisition by Blackstone in India. Blackstone had paid a purchase price of Rs 430 per share to HPE.

Later in 2018, Blackstone had sold 8% stake in Mphasis at an average price of Rs 926 and reduced their stake to 52% in the company.

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