Shares of Kolte-Patil Developers Ltd rose 2.69% to ₹469 in Wednesday’s session after the Competition Commission of India (CCI) cleared the proposed equity investment by global private equity firm Blackstone. This move signals a major strategic boost for the real estate company.
The deal involves a preferential allotment of 1.26 crore equity shares at ₹329 apiece, amounting to ₹417 crore. Additionally, Blackstone will acquire more shares via secondary transactions, taking its post-deal stake in Kolte-Patil to approximately 25.7%
The transaction had already received in-principle approval from stock exchanges, and the CCI’s green light now paves the way for its closure. Investors welcomed the update, pushing the stock higher on expectations of enhanced growth prospects and strategic support.
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