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Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL) has forged a transformative strategic partnership with global investment giant Blackstone. This partnership is pivotal in KPDL's growth trajectory, positioning the company to leverage Blackstone's global expertise and financial strength to accelerate expansion, drive innovation, and reinforce its leadership in the dynamic Indian real estate sector.
Blackstone is set to acquire up to a 66 per cent stake in Kolte-Patil Developers (KPDL) through a commitment of approximately Rs 1,800 crore. As part of the deal, KPDL will allot ~ 1.27 crore equity shares (14.3 per cent) to Blackstone Real Estate funds, raising Rs 417.03 crore. Additionally, Blackstone Real Estate funds will purchase 25.7 per cent of KPDL's post-issue equity share capital from the existing promoters, resulting in an ownership of approximately 40 per cent in KPDL. Simultaneously, Blackstone Real Estate funds will acquire up to 26 per cent of the company from the public through an open offer.
The partnership brings together KPDL's three-decade legacy of market expertise and execution excellence with Blackstone's unparalleled global investment acumen, financial strength, and extensive experience across various real estate asset classes in India, including office, retail, warehousing, and data centres.
Rajesh Patil, Chairman of Kolte-Patil Developers Ltd., said, "This landmark partnership with Blackstone marks a defining moment in Kolte-Patil Developers' growth story and our commitment to creating long-term value for our stakeholders. Blackstone's investment is a testament to the strength of our brand and execution capabilities. Aligning with one of the world's most respected investment firms will drive an orbital transformation in KPDL and support value unlocking. We are excited about the opportunities ahead as we combine our market expertise with Blackstone's global governance benchmarks."
Asheesh Mohta, Head of Real Estate Acquisitions - India, Blackstone, added, "We are pleased to partner with Kolte-Patil Developers, a well-established developer, and continue our commitment to investing in Indian real estate. Blackstone has built leading platforms across the office, retail, logistics, hotels and data centres, and this investment marks our strategic entry into the Indian residential sector. Strong tailwinds underpin the sector, including a growing middle-class population and rapid urbanisation. We see the potential to serve Indians increasingly looking for high-quality homes and continue our mission of investing in and improving residential properties worldwide."
