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Blackstone sold stake to create more liquidity, says Mphasis

Updated : May 14, 2018 03:31 PM IST

Mphasis saw a big block deal on Monday morning as promoter Blackstone sold 8 percent stake at Rs 960 per share.

Nitin Rakesh, ED and CEO of the company, said that the idea was to create more liquidity in the stock. The company will retain controlling position.

Talking about further stake sell, he said, “They have very clearly said that they don't intend to sell any more because their global position always has to have controlling position, so I do not think it is going to play out.”
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