Kolte-Patil and Blackstone forge strategic partnership to drive Residential Real Estate Growth in India

Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading force in Pune's real estate market with a growing footprint in Mumbai and Bengaluru, has forged a transformative strategic partnership with global investment giant Blackstone. This partnership is a pivotal milestone 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.

Key highlights

- Blackstone will acquire up to 66% stake in KPDL for a commitment of c. INR 1,800 crore

a. Kolte-Patil Developers (KPDL) will allot ~1.27 crore equity shares (14.3%) to Blackstone Real Estate funds, raising Rs. 417.03 crore.

b. Blackstone Real Estate funds will acquire 25.7% of KPDL's post-issue equity share capital from existing promoters. Following the transaction, Blackstone Real Estate funds will hold approximately 40% ownership in KPDL.

c. Simultaneously, Blackstone Real Estate funds will acquire additional up to 26% 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 centers.

Commenting on this development, Rajesh Patil, Chairman, 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 of investing in Indian real estate. Blackstone has built leading platforms across office, retail, logistics, hotels and data centers, and this investment marks our strategic entry in the Indian residential sector. The sector is underpinned by strong tailwinds including a growing middle-class population and rapid urbanization. We see potential to serve Indians increasingly looking for high-quality homes and continue our mission of investing in and improving residential properties around the world."

This strategic collaboration will empower KPDL to scale operations, enhance execution capabilities, and capitalize on India's rapidly growing residential real estate sector. With a strong foundation, a debt-free balance sheet, and a shared vision for sustainable and scalable growth, Kolte-Patil and Blackstone are well-positioned to strengthen their presence in India's residential real estate sector.

Shares of Kolte - Patil Developers Limited was last trading in BSE at Rs. 347.15 as compared to the previous close of Rs. 338.60. The total number of shares traded during the day was 197108 in over 5976 trades.

The stock hit an intraday high of Rs. 354.90 and intraday low of 323.15. The net turnover during the day was Rs. 67160819.00.

Source : Equity Bulls

Keywords

KoltePatilDevelopers INE094I01018 Realty RealEstate Pune GrowingFootprint Mumbai Bengaluru StrategicPartnership Blackstone