🏠 *Blackstone Makes a Big Move in Indian Real Estate with Kolte-Patil Stake*

Blackstone’s Massive Investment in Kolte-Patil

Global investment giant Blackstone is entering India's residential real estate market by acquiring a 40% stake in Kolte-Patil Developers for ₹1,150 crore. This includes a 14.3% stake for ₹417 crore through a preferential share issue and another 25.7% stake from the promoter group for ₹750 crore.

Open Offer for Public Shareholders

To further strengthen its position, Blackstone has launched an open offer to buy 26% stake from public shareholders at ₹329 per share, totaling ₹758.56 crore. If the deal is successful, Blackstone will hold 66% control over Kolte-Patil.

Blackstone’s Vision for Indian Real Estate

This marks Blackstone’s first major step into India’s residential market, having already invested $50 billion in office spaces, shopping malls, and warehouses. The firm plans to double its India exposure to $100 billion.

Leadership Excited About the Deal

Kolte-Patil’s Chairman, Rajesh Patil, called this a "landmark partnership", while Blackstone’s India real estate head, Asheesh Mohta, emphasized the potential in India’s growing middle-class and urbanization trends.