When promoters increase their stake in their company, it is usually considered a positive. It indicates that the promoter is confident about the future prospects of the company. Another yardstick to measure a company's financial health is its sales growth. On analysis, Moneycontrol found there are 59 companies in the BSE universe where promoters have consistently increased their stakes over the past four quarters. Out of these, only four have posted at least 10 percent sales growth in the last two fiscal years. Interestingly, 3 out of 4 stocks have gained over 20 percent in the past year (From December 13, 2019, to December 14, 2020). (Data Source: ACE Equity)
Blackstone, the world’s biggest alternative asset manager & corporate landlord has elevated Amit Dixit, the current Head of Private Equity (India) and the Co-head of Asia Acquisitions as the new Head of Private Equity (Asia), sources with knowledge of the matter told Moneycontrol.
The move is part of a series of leadership elevations in different jurisdictions under Joseph Barrata, the Global Head of Private Equity and a member of Blackstone’s board of directors, these sources added.
“Amit Dixit will continue to oversee India and will be based in Mumbai in his new role,” said one of the individuals cited above.
A second individual confirmed Dixit’s elevation adding that an official announcement would be made shortly.
Both the individuals spoke to Moneycontrol on the condition of anonymity. A Blackstone spokesperson could not be contacted for an immediate comment.
Amit Dixit, Head of Private Equity (Asia) - Blackstone India
Amit Dixit, a Harvard Business School and IIT Mumbai alumnus has been with Blackstone India for 14 years. Previously, he was a Principal at rival private equity firm Warburg Pincus.
According to his Linkedin profile, Dixit currently serves as a Director of portfolio companies Mphasis, TaskUs, Sona Comstar, IBS Software, Essel Propack, Aakash Education, Jagran Prakashan, and Mid-Day Infomedia.
Recently, the Blackstone group posted record quarterly profits of $1.75 billion. Its’s $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.