BENGALURU: Mphasis CEO Nitin Rakesh said Blackstone’s stake sale reflects a natural phase in the private equity firm’s investment lifecycle and does not indicate any loss of confidence in the company’s performance. Blackstone acquired a 60.5% stake in Mphasis for $1.1 billion in 2016 and has been invested in the company for over nine years. In Nov last year, Mphasis clarified that its promoter BCP Topco IX , part of the Blackstone Group, has indicated that, subject to market conditions, it may sell up to 1.8 crore shares of Mphasis. through open market transactions.
New building standard makes fire safety advisory, raises height threshold to 24m
New Delhi: Residential buildings under 24 metres in height — a category that includes a large number multi-storey homes, such as the ill-fated one in Delhi’s Vivek Vihar — will…