According to an exchange filing, the New York-based investment behemoth Blackstone Inc. will pay ₹1,167.03 crore to purchase a 40% share in the Indian real estate company Kolte-Patil Developers Limited. An open offer for Blackstone to buy the shares from the current promoter shareholders will be triggered by this transaction. The BSE filing said that the real estate company will give the investment behemoth 14.29 percent of its preferred shares in exchange for ₹417.03 crore in exchange for the issuance of 1,26,75,685 or 1.26 crore shares. The document states that Blackstone is purchasing the company’s shares from a number of other founders, including Rajesh Anirudha Patil, Naresh Anirudha Patil, and Milind Digambar Kolte.
Kolte-Patil Developers’ stock ended Thursday’s trading session 2.53% higher at ₹347.15, up from ₹338.60 at the previous market closing. On Thursday, after market hours, the open offer was made public. Due to Holi 2025, the Indian stock market was closed on Friday, March 14. Stock market investors have received 82.9% returns on their investment in Kolte-Patil Developers shares. However, due to market volatility, the stock has lost slightly more than 23% in the past year. Nonetheless, the stock has increased by 26.56% in the past month. The shares surged 22.60 per cent in the last five market sessions. The stock hit its 52-week high of ₹574 on April 10, 2024, while the 52-week low level was at ₹235.10 on March 4, 2025, according to BSE data. According to official data, the three-decade-old firm has developed and constructed more than 64 projects, including residential complexes, commercial complexes, and IT Parks, across Pune, Mumbai, and Bengaluru.