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News Topical, Digital Desk : Block Deal News: According to sources, Blackstone is preparing to reduce its stake in IT services company Mphasis soon. The private equity firm is assessing investor demand ahead of a potential block deal.
The size of the sale will be decided after this assessment. At the end of the September quarter, Blackstone held a 40.1% stake in the company, held through an entity called BCP Topco IX Pte Ltd.
Both Blackstone and Mphasis declined to comment on the matter. Earlier in February, Blackstone sold approximately 15% of its stake in the company for approximately ₹6,700 crore. Mphasis shares fell more than 3% on the NSE in Monday's session.
Eye on second quarter results This potential block deal comes at a time when the company recently reported stable second quarter (Q2) results. Dollar revenue grew 1.7% quarter-on-quarter, while constant currency growth was 2%. EBITDA margin also remained stable at 15.3%. The company reiterated that it expects to grow at twice the industry rate in FY26, driven by strong large deal execution. In Q2, the company secured deals worth $528 million, increasing the half-year TCV to $1.28 billion, exceeding the deal value of the entire FY25. The company's order pipeline reached record levels, growing 9% quarter-on-quarter and 97% year-on-year. AI-based deals accounted for 69% of this. PAT increased to ₹469 crore, while revenue in rupee terms increased to ₹3,902 crore.
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