Mphasis in limelight

Mphasis is very much in the news today as three Blackstone entities have now offered to buy, through ‘open offer’, an additional around 5 crore shares or 26% stake at Rs.1,677.16/share.

A fund managed by Blackstone had acquired a controlling stake in Mphasis from Hewlett Packard Enterprise in September 2016. It had purchased a 60.5% at a price of Rs.430/share.

This news has put the limelight on the stock, which today opened 1.3% higher at Rs.1720 and went on to hit an intraday high at Rs.1805, already over 7.5% higher than the open offer price. Its 52-week high is at Rs.1835.95.