The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Rajesh Patil & PACs
KOLTEPATIL · price
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Promoter Rajesh Patil and Persons Acting in Concert (PACs) have sold 43,64,459 equity shares — 25.7% of Kolte-Patil Developers' paid-up share capital — to BREP Asia III India Holding Co VII Pte. Ltd. (a Blackstone affiliate) through an off-market Share Purchase Agreement on August 11, 2025. As a result, the combined promoter and promoter group shareholding has dropped sharply from 59.5% to 33.8%, falling below the 50% mark and giving up majority control. Individually, Rajesh Patil's stake declined from 16.18% (1,43,45,965 shares) to 11.26% (99,81,506 shares), a 4.92% reduction. BREP Asia III has emerged as a major institutional shareholder with a 25.7% stake in the company.
This is a landmark ownership change — the Kolte-Patil founding family has ceded majority control and dropped below 50%, while a reputed global private equity investor (Blackstone) now holds a significant strategic stake. The stock may see short-term volatility, but institutional entry at this scale is generally seen as a credibility boost. The 25.7% acquisition will also trigger SEBI open offer obligations for additional share purchase from public shareholders.