BREP Asia III India Holding Co VII Pte. Ltd. (Acquirer), along with Blackstone Real Estate Partners Asia III L.P. (PAC 1) and Blackstone Real Estate Partners (Offshore) X.TE-F (AIV) L.P. (PAC 2), announced the completion of their open offer for Kolte-Patil Developers Limited. The offer, which aimed to acquire up to 2,30,56,825 equity shares, saw the acquisition of only 614 shares.
The open offer, priced at ₹329 per equity share, commenced on August 22, 2025, and closed on September 9, 2025. The consideration was paid out on September 12, 2025.
| Particulars | Proposed in the LOF | Actuals |
|---|---|---|
| Offer Price (per Equity Share) | ₹329.00 | ₹329.00 |
| Aggregate number of Equity Shares tendered in the Offer | 2,30,56,825 | 614 |
| Aggregate number of Equity Shares accepted in the Offer | 2,30,56,825 | 614 |
| Size of the Offer (Number of Equity Shares multiplied by Offer Price) | ₹758.57 Crores | ₹2,02,006 |
| Shareholding of the Acquirer before agreements/ public announcement | Acquirer: Nil (0.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) | Acquirer: Nil (0.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) |
| Equity Shares acquired by way of agreements by Acquirer (SPA, SHA and SSA) | 3,54,72,038 (40.00%) | 3,54,72,038 (40.00%) |
| Equity Shares acquired by way of Open Offer | Acquirer: 2,30,56,825 (26.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) | Acquirer: 614 (0.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) |
| Equity Shares acquired after Detailed Public Statement | Acquirer: Nil (0.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) | Acquirer: Nil (0.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) |
| Post Offer shareholding of the Acquirer | Acquirer: 5,85,28,863 (66.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) | Acquirer: 3,54,72,652 (40.00%) PAC 1: Nil (0.00%) PAC 2: Nil (0.00%) |
| Pre & Post offer shareholding of the public | Pre-Offer: 2,32,21,961 (30.55%) Post-Offer: 1,65,136 (0.19%) | Pre-Offer: 2,32,21,961 (30.55%) Post-Offer: 2,32,21,347 (26.19%) |
Prior to the offer, the Acquirer held no shares in the Target Company. As of the post-offer announcement, the Acquirer holds 3,54,72,652 shares, representing 40.00% of the emerging voting capital.
JM Financial Limited managed the offer on behalf of the Acquirer and PACs, while MUFG Intime India Private Limited acted as the registrar.
The Acquirer and its directors accept responsibility for the information provided in the post-offer advertisement, ensuring compliance with SEBI regulations.
The Acquirer and its directors accept responsibility for the information provided in the post-offer advertisement, ensuring compliance with SEBI regulations.
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