Blackstone has received approval from the Competition Commission of India (CCI) for its proposed investment in Kolte-Patil Developers through a combination of preferential allotment and secondary share purchase. In March 2025, the company had announced about a proposed equity infusion via preferential allotment and secondary share acquisition by BREP Asia III India Holding Co VII, an affiliate of Blackstone. The transaction involves a two-pronged investment structure, cumulatively valued at approximately ?1,167 crore. As part of the deal, Kolte-Patil Developers will issue 1,26,75,685 equity shares on a preferential basis to BREP Asia III India Holding Co VII. The shares, having a face value of ?10 each, are priced at ?329 per share, translating to a total infusion of ?417.03 crore. Post completion, Blackstone will hold 40% of Kolte-Patil’s equity capital, excluding the open offer. Subject to full acceptance of its open offer for an additional 26% stake from public shareholders, its holding may rise to 66%.  Post-transaction, the promoter group’s shareholding will decline from 59.52% to 33.81%, with significant stake dilution by Rajesh Anirudha Patil, Naresh Anirudha Patil, and Milind Digambar Kolte, among others.

https://www.livehomes.in/news_letter