Blackstone is set to pare its stake in Mphasis through a large block deal, CNBC-TV18 had reported earlier in the day, and the newsbreak now stands confirmed.

The private equity firm will sell up to 9.5% of the company’s total equity.

The block deal will be executed at a floor price of ₹2,570 per share, representing a 4.4% discount to Mphasis’ November 17 NSE close of ₹2,688.70. The total deal size is estimated at ₹4,626 crore, and Blackstone has agreed to a 180-day lock-up on its remaining stake.

Blackstone held 40.1% in Mphasis at the end of September under BCP Topco IX Pte Ltd. Both Blackstone and Mphasis had earlier declined to comment on the development. The PE major had sold around 15% in the company in February for nearly ₹6,700 crore.

Shares of Mphasis fell over 3% in Monday’s s

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