MphasiS lost 1.99% to Rs 458.10 at 12:31 IST on BSE after US investment firm Blackstone Group announced an open offer for acquiring 26% stake in MphasiS at a discount to the stock's closing price on Friday, 1 April 2016.
Meanwhile, the S&P BSE Sensex was up 15.22 points or 0.06% at 25,284.86
On BSE, so far 55,232 shares were traded in the counter as against average daily volume of 32,648 shares in the past one quarter. The stock hit a high of Rs 486 and a low of Rs 451.20 so far during the day. The stock had hit a 52-week low of Rs 362.50 on 3 June 2015. The stock had hit a 52-week high of Rs 534 on 29 October 2015. The stock had outperformed the market over the past one month till 1 April 2016, gaining 6.64% compared with Sensex's 6.27% rise. The scrip had, however, underperformed the market in past one quarter, falling 5.59% as against Sensex's 3.41% fall.
The mid-cap company has equity capital of Rs 210.18 crore. Face value per share is Rs 10.
Blackstone has announced an open offer to the public equity shareholders of MphasiS to acquire up to 5.49 crore shares, representing 26% stake at Rs 457.54 per share, aggregating to total consideration of Rs 2513.18 crore. The open offer price of Rs 457.54 per share is at a 2.1% discount to the stock's closing price of Rs 467.40 on Friday, 1 April 2016. The open offer was triggered by Blackstone entering into a share purchase agreement (SPA) to acquire from the promoters of MphasiS up to 12.71 crore shares representing 60.17% stake in MphasiS at Rs 430 per share.
On consolidated basis, MphasiS' net profit fell 5.99% to Rs 173.64 crore on 2.61% decline in net sales to Rs 1516.75 crore in Q3 December 2015 over Q2 September 2015.
MphasiS is a IT solutions provider, offering applications, business process outsourcing (BPO) and infrastructure services globally through a combination of technology knowhow, domain and process expertise.
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