Kolte Patil Developers (KPDL) has forged a transformative strategic partnership with global investment giant Blackstone. This partnership is a
pivotal milestone in KPDL's growth trajectory, positioning the company to leverage Blackstone's global expertise and financial strength to accelerate expansion, drive innovation, and reinforce its leadership in the dynamic Indian real estate sector.
Blackstone will acquire up to 66% stake in KPDL for a commitment of Rs 1,800 crore.
KPDL will allot
1.27 crore equity shares (14.3%) to Blackstone Real Estate funds, raising Rs. 417.03 crore.
Blackstone Real Estate funds will acquire 25.7% of KPDL's post-issue equity share capital from existing promoters. Following the transaction, Blackstone Real Estate funds will hold approximately 40% ownership in KPDL.
Simultaneously, Blackstone Real Estate funds will acquire additional up to 26% from the public through an open offer.