Real estate sector
The world’s legendary investment firm Blackstone has bought a 40 per cent stake in the real estate sector company Kolte Patil Developers. Blackstone has bought this stake for Rs 1167.03 crore. Now Blackstone can also buy shares from shareholders through open offers. The realty firm will give 14.29 per cent preferred shares to Blackstone. It costs Rs 417.03 crore. There will be 1.26 crore shares transfer in this deal. This has been found out from the information given to the stock exchanges.
Kolte Patil Developers’ control will go to Blackstone
In this deal, the control of Kolte Patil developers will go to Blackstone. The company’s current shareholders are selling 25.71 per cent stake for Rs 750 crore. The deal with preferred shares and existing shareholders endorses for a total of Rs 1167.03 crore. The company’s promoters Rajesh Anirudh Patil, Naresh Anirudh Patil and Milind Digambar are selling their stake. This deal will have a 66 per cent stake in Kolte Patil developers near Blackstone.
40% return given in 2 weeks
Shares of Kolte Patil Developers have given a great return of 40 per cent in the last 2 weeks. The company’s stock closed at Rs 347.15 on Thursday, the company’s share on the last trading day of the week. The share of this stock is 52 weeks high 574 rupees. At the same time, 52 weeks are Rs 235.10. The company’s market cap is Rs 2,638.49 crore.
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