CCI Clears Blackstone’s Rs 11.5 Billion Kolte-Patil Deal

17 Jun 2025 CW Team

The Competition Commission of India (CCI) has approved Blackstone’s acquisition of a 40 per cent stake in Pune-based Kolte-Patil Developers Ltd. The deal, valued at Rs 11.5 billion, marks Blackstone’s entry into the Indian residential real estate sector.

The acquisition will be made by Blackstone’s affiliate, BREP Asia III India Holding Co VII Pte Ltd, through a combination of preferential share subscription and promoter stake purchase. As part of the agreement, Blackstone will also launch an open offer to acquire up to 26 per cent of Kolte-Patil's equity from public shareholders for an additional Rs 7.59 billion.

In March 2025, Blackstone had announced its intent to invest in the developer, with a 14.3 per cent stake acquired via a preferential issue for Rs 4.17 billion, and a 25.7 per cent stake purchased from the promoter group for Rs 7.5 billion. Following the transaction, Blackstone and Kolte-Patil’s promoters will jointly control the company.

This investment is part of Blackstone’s broader strategy to double its India exposure to USD 100 billion. The firm currently has an exposure of USD 50 billion in the country across real estate sectors such as offices, shopping malls, warehouses, and data centres.

In a separate development, CCI has also approved Havells India Ltd’s acquisition of a stake in Goldi Solar Pvt Ltd, and Goldi Sun Pvt Ltd’s acquisition of 100 per cent partnership interest in Vama Inverters LLP and Goldi Energy LLP.

Havells, known for manufacturing fans, lighting, switches, and appliances, is expanding into solar. Goldi Solar and its affiliates are engaged in manufacturing solar modules and EPC services for the solar sector, while Vama Inverters deals in solar inverter sales.

The approvals reflect CCI’s role in regulating major transactions to promote fair competition and ensure compliance with thresholds in M&A activity across sectors.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..