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Private equity player Blackstone India announced that it will buy Bengaluru-based Mphasis for ₹7,100 crore, making it the largest deal in India and bringing to a close speculation over the future of Mphasis.
The PE major will acquire Hewlett-Packard’s 60.5 per cent stake in the company at ₹430 per share, which will trigger an open offer for acquiring 26 per cent from Mphasis’ other shareholders. The open offer is priced at ₹457.50 per share.
“The deal is a win-win for both parties as finally Mphasis gets access to not only HP but even Blackstone’s portfolio, which will be sizeable,” said Sanchit Vir Gogia, Chief Analyst & CEO of Greyhound Research.
Source: The Hindu Business Line