Mphasis - Blackstone Continuity Reinstates Growth Outlook: Prabhudas Lilladher
Signage is displayed outside Blackstone Group LP headquarters in New York, U.S. (Photograph: Victor J. Blue/Bloomberg)

Mphasis - Blackstone Continuity Reinstates Growth Outlook: Prabhudas Lilladher

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Prabhudas Lilladher Report

Mphasis Ltd. on April 26, 2021 announced that Blackstone entered into a definitive agreement to transfer 55% shareholding in Mphasis from its existing PE fund (Marble II PTE) to a different Blackstone PE fund (BCP Topco IX Pte).

Blackstone also brought along marquee long term co-investors - Abu Dhabi Investment Authority and University of California Investments.

The same agreement will trigger a mandatory open offer; which Blackstone intends to subscribe at Rs 1,677 per share (down 1% discount to April 23 close).

Given Blackstone’s decision to remain invested and that the new investment has horizon of seven to 10 years, removes a major overhang of promoter’s exit threat which will be comforting to minority shareholders.

Click on the attachment to read the full report:

Prabhudas Lilladher Mphasis Company Update.pdf


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