Blackstone stake sale natural cycle: Mphasis

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.