KOLKATA, April 26, 2021: Blackstone Group Inc. plans to acquire an additional 26% in Indian IT outsourcing services provider Mphasis Ltd. for $1.1 billion.
The private equity firm will offer about Rs.1,677.16 apiece (about $22.43) for the Mphasis shares, Bloomberg reported, quoting a company filing. The company’s shares rose 3.3% to Rs.1,696.5 (about $22.69) on Friday.
Blackstone had bought a 60.5% stake in Mumbai-listed Mphasis from Hewlett Packard Enterprise Co. in 2016 at Rs.430 (about $5.75) per share.