Kolte-Patil Developers received CCI approval for Blackstone's proposed transaction.
The deal involves a preferential issue of 1,26,75,685 equity shares at ₹329 per share, aggregating to ₹417.03 crore, to BREP Asia III India Holding Co VII Pte. Ltd. (Blackstone).
Blackstone will also purchase ~25.7% of the company’s post-issue equity share capital.
Stock exchanges have also accorded their in-principle approval prior to issue and allotment of securities on a preferential basis.