Blackstone sold 29.5 million shares in Mphasis Ltd, amounting to a 15.6% stake, via a block deal early on 10 June, as per data on the Bloomberg terminal.
With this, Blackstone has sold shares amounting to ₹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. Bengaluru-based Mphasis provides information technology services, including business process outsourcing services.
