News

Blackstone is set to pare its stake in Mphasis through a large block deal, CNBC-TV18 had reported earlier in the day, and the newsbreak now stands confirmed.The private equity firm will sell up to 9.5% of the company’s total equity.The block deal will be executed at a floor price of ₹2,570 per share, representing a 4.4% discount to Mphasis’ November 17 NSE close of ₹2,688.70. The total deal size is estimated at ₹4,626 crore, and Blackstone has agreed to a 180-day lock-up on its remaining stake.Blackstone held 40.1% in Mphasis at the end of September under BCP Topco IX Pte Ltd. Both Blackstone and Mphasis had earlier declined to comment on the development. The PE major had sold around 15% in the company in February for nearly ₹6,700 crore.Shares of Mphasis fell over 3% in Monday’s session on the NSE.The planned stake sale comes shortly after the IT firm posted a steady Q2 performance. Sequential dollar revenue grew 1.7% (2% in constant currency), while EBIT margin remained steady at 15.3%. The company reiterated its expectation of growing at more than twice the industry rate in FY26.Deal wins stood at $528 million for Q2, taking first-half TCV to $1.28 billion, surpassing the full-year FY25 tally. The order pipeline hit a record high, jumping 9% QoQ and 97% YoY, with AI-led contracts making up 69% of the mix. PAT rose to ₹469 crore, and rupee revenue climbed to ₹3,902 crore.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.