The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Milind Kolte & PACs
KOLTEPATIL · price
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Awaiting price reaction for this filing.
Promoter Milind Kolte sold 24,62,006 equity shares (2.78% of paid-up capital) of Kolte-Patil Developers to BREP Asia III India Holding Co VII Pte. Ltd. through an off-market transaction on 11 August 2025. Post-sale, Milind Kolte's individual holding dropped from 7.26% (64,42,156 shares) to 4.49% (39,80,150 shares). The broader promoter group sold a total of 25.7% of the company under a Share Purchase Agreement, reducing their combined stake from 59.5% to roughly 33.8%, meaning promoters have now fallen below the 50% majority threshold. The deal marks a significant promoter exit to a private equity acquirer (Blackstone-affiliated BREP Asia III fund).
This is a major negative signal for retail investors — promoters have lost majority control of the company, selling over a quarter of their stake to a PE investor. Expect short-term pressure on the stock due to concerns over change in management dynamics, though the entry of a large PE player may provide governance and operational support.