Mphasis promoter entity pares nearly 9.5 pc stake for Rs 4,726 cr

New Delhi, Nov 18 (PTI) Global investment firm Blackstone, promoter of Mphasis, on Tuesday sold a 9.5 per cent stake in the information technology and consulting company for Rs 4,726 crore through an open market transaction.

As per the bulk deal data available with the BSE, US-based Blackstone through its affiliate BCP Topco IX Pte offloaded 1.80 crore equity shares in Mphasis, amounting to a 9.46 per cent stake in the IT and consulting firm.

The shares were disposed of at an average price of Rs 2,625.59 apiece, taking the transaction value to Rs 4,726.06 crore.

After the latest transaction, Blackstone's holding in Mphasis has declined to 30.64 per cent from 40.10 per cent.

Meanwhile, HDFC Mutual Fund (MF), ICICI Prudential MF and Kotak Mahindra MF acquired a total of 70,75,436 or 3.71 per cent stake in Mphasis at the same price.

This took the combined deal value to Rs 1,857.30 crore.

Details of other buyers of Mphasis shares could not be ascertained on the exchange.

Mphasis shares dropped 1.10 per cent to close at Rs 2,659.70 apiece on the BSE.

In June this year, Blackstone divested a 15.08 per cent stake in the company for Rs 6,735 crore.

In a separate bulk deal on the BSE, Bain Capital through its arm BC Investments IV sold a total of 46 lakh shares or 2.43 per cent in Emcure Pharmaceuticals for Rs 610 crore through open market transactions.

The transaction was valued around Rs 609.99 crore and was executed in the price range of Rs 1,326.03-1,326.11 apiece.

After the stake sale, Bain Capital's holding in Emcure reduced to 3.87 per cent from 6.30 per cent. In July this year, Bain Capital sold a 2.4 per cent stake in Emcure Pharma for Rs 563 crore.

Details of the buyers of Emcure Pharmaceuticals' shares could not be ascertained on the BSE.

Shares of Emcure Pharmaceuticals fell 2.52 per cent to close at Rs 1,360.30 apiece on the BSE. PTI HG HG MR