Kolte-Patil Developers shares rise over 3%, here's why

Kolte-Patil Developers share price: Shares of Kolte-Patil Developers rose over 3% on Wednesday after the fair trade regulator Competition Commission of India (CCI) cleared global asset manager Blackstone's proposal to acquire a majority stake in Pune-based Kolte-Patil Developers.

Kolte-Patil Developers shares rose 3.21% to Rs 472 against the previous close of Rs 457.30 on BSE. Market cap of the firm climbed to Rs 3,491 crore. 

US-based Blackstone, via its affiliate BREP Asia III India Holding Co VII Pte Ltd, is buying a stake in Kolte-Patil Developers.

"The combination envisages acquisition of a 40 per cent shareholding in Kolte-Patil Developers Ltd by BREP Asia III India Holding Co VII Pte Ltd through a combination of share subscription and share purchase," the CCI said in a release.

The transaction also envisages the acquisition of shares of the target under an open offer, it added.

"CCI approves the acquisition of a certain shareholding in Kolte-Patil Developers Limited by BREP Asia III India Holding Co VII Pte. Ltd," the regulator said in a post on X.

In March 2025, Blackstone said it would acquire a 40% stake in realty firm Kolte-Patil Developers for Rs 1,150 crore, entering the Indian residential market after having significant exposure in office, shopping mall, warehousing, and data centre verticals of real estate.

The investment firm will buy a 14.3% stake for Rs 417 crore through a preferential issue of equity shares and another 25.7% stake from the promoters group for Rs 750 crore.

Kolte-Patil Developers is a listed company that is primarily engaged in the business of construction, development, and sale of real estate.