Mphasis Sees Major Stake Sale as BCP Topco Divests 10.6% Stake

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BCP Topco IX Pte plans to sell a 10.6% stake in Mphasis Ltd for ₹2,350 per share. The deal could rise from 10.6% to 15.1%, escalating the value up to ₹6,697 crore if the option is exercised.

Mphasis News Today

BCP Topco IX Pte, a company linked to private equity giant Blackstone, is set to divest a significant stake in IT company Mphasis Ltd. The proposed sale will be conducted through block deals, with a base price of ₹2,350 per share. The initial transaction size is valued at ₹4,700 crore.


Potential Upsize Option

In addition to the base transaction, there is an upsize option that could increase the stake sale from 10.6% to 15.1%. If this option is exercised, the total value of the deal could escalate to ₹6,697 crore. This strategic move includes a 180-day lock-in period for the shares involved in the transactions.

Mphasis Financial Performance

For the March quarter of FY24, Mphasis reported a consolidated net profit of ₹393.2 crore, which marks a 2.98% decline from ₹405.3 crore in the same quarter of the previous year. Despite this dip in profits, the company's revenue saw a slight increase.

On an annual basis, Mphasis recorded a 5% decline in consolidated net profit, amounting to ₹1,558.8 crore for FY24, down from ₹1,637.9 crore in FY23. Similarly, the annual revenue from operations also decreased by approximately 4%, dropping to ₹13,278.5 crore in FY24 from ₹13,798.4 crore in the previous fiscal year.

Additional Read: Mphasis Sees Major Stake Sale as BCP Topco Divests 10.6% Stake

In Conclusion

BCP Topco IX Pte’s planned sale of its stake in Mphasis Ltd marks a notable move in the market, potentially altering the ownership landscape of the IT company. Despite facing a decline in profits, Mphasis has demonstrated resilience through steady revenue and substantial contract wins, positioning it well for future growth.

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