PE firm Blackstone’s change of tact with Mphasis sale to please investors

Until last week, the worry for investors in Mphasis Ltd was that Blackstone Group LP might sell a part of its stake in the company, which would put some pressure on the stock price. After all, its attempts to exit the investment through a deal with private equity (PE) firm, Carlyle Group, hadn’t worked out. With the stock soaring, it was believed that Blackstone may bring down its stake marginally from the 56% levels, and book some profit.