Blackstone to Acquire 40% Stake in Kolte-Patil for ₹1,150 Crore

Global investment firm Blackstone will acquire a 40% stake in Pune-based Kolte-Patil Developers for ₹1,150 crore. This includes a 14.3% stake via a ₹417 crore preferential issue and a 25.7% stake from promoters for ₹750 crore. Blackstone will also launch an open offer for an additional 26% stake, securing joint control over the company.