BENGALURU: Blackstone India today announced that it has entered into a definitive agreement with Hewlett Packard Enterprise to buy a majority stake in Mphasis Limited, an Information Technology services provider offering Applications,
Business Process Outsourcing and Infrastructure Services. This deal represents the largest acquisition by Blackstone in India and is the largest private equity transaction in India.
HPE currently owns 60.5% of Mphasis. Blackstone will pay a purchase price of INR 430 per share to HPE. Mphasis is listed on the National Stock Exchange and Bombay Stock Exchange in India. As per the Takeover Code in India, this transaction will trigger a mandatory open offer for a purchase of additional 26% shares of the company and the acquiring entity has released a public announcement to the stock exchanges. Based on the open offer subscription, the purchase price consideration will vary between INR 5,466 crore and INR 7,071 crore (or, approximately $825 million - $1.1 billion).