%20210723.jpg?rect=0%2C21%2C551%2C289&w=1200&auto=format%2Ccompress&ogImage=true&ssl=1 "Promoter Blackstone To Pare Stake For Rs 4,600 Crore")
Mphasis Ltd. promoter Blackstone Inc. will offer up to 9.5% equity via large deals on Tuesday, according to a termsheet.
BCP Topco IX Pte., an affiliate of Blackstone, is set to sell up to 1.8 crore shares at Rs 2,570 each, a discount of about 4.4% to the last closing price of Rs 2,688.7. The total deal size at the floor price amounts to nearly Rs 4,626 crore or $522 million.
The private equity giant holds 40.1% stake in Mphasis, as per latest shareholding data on the BSE. The balance equity after the large deal will be subject to 180 day lock in.
Citigroup is the merchant banker to the large deal.
In February, Blackstone sold around 15% in Mphasis for nearly Rs 6,700 crore.
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