Blackstone builds on investments in India

The buyout firm announces its second India deal in a fortnight, investing $150 million for a 14.5% stake in Nagarjuna Construction.

Blackstone has accelerated the pace of investing in India with the $150 million purchase of a stake in Nagarjuna Construction following close on the heels of its Gokaldas deal.

Blackstone will own 14.5% of Hyderabad-based Nagarjuna Construction. The stake is being acquired via a fresh issue of shares and warrants. Blackstone will be allotted 20,246,900 equity shares at a face value of Rs2 $.05 each and a premium of Rs200.50. This adds up to $100 million and represents a 12.5%...

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