Shares of IT services company Mphasis slipped 3% on November 17 after CNBC-TV18 reported that global investment firm Blackstone is preparing to trim its stake in the Bengaluru-based company. The move is expected to take place through a large block deal, according to sources quoted by the channel.

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Mphasis Shares React; Stock Down 3%Mphasis Q2 FY26 Performance

Investor appetite for the proposed stake sale is currently being assessed, and the deal size is likely to be significant, the report added.

At the end of September, Blackstone held a 40.1% stake in Mphasis, through its entity BCP Topco IX Pte Ltd. The potential sale marks a notable development for the IT firm, which has been one of the key assets in Blackstone’s India portfolio.

Mphasis Shares React; Stock Down 3%

On November 17, Mphasis shares closed 3% lower at ₹2,682 per share.
The stock currently trades between a 52-week low of ₹2,044 and a 52-week high of ₹3,238, giving it a market capitalisation of nearly ₹51,000 crore.

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Mphasis Q2 FY26 Performance

The stake sale buzz comes a month after Mphasis announced solid financial results for the July–September quarter.

Net profit rose 11% to ₹469 crore, compared to ₹423.3 crore a year earlier.
Revenue from operations increased 10.34% to ₹3,901.91 crore in Q2 FY26, as against ₹3,536.14 crore in Q2 FY25.
Sequentially, profit and revenue grew 6.18% and 4.53%, respectively.

Highlighting the company’s growth momentum, Mphasis CEO and MD Nitin Rakesh said the firm’s early focus on AI is yielding strong results.

“Our early, focused investments in AI have positioned Mphasis as a strategic partner for clients navigating their transformation journey,” he said.

The company also announced impressive deal wins:

Total contract value (TCV) of $528 million in Q2
87% of these deals were in new-gen services, underscoring strong traction in AI-led offerings

What’s Next?

While Blackstone’s potential exit or stake reduction is yet to be formally confirmed, the market reaction indicates investor sensitivity to promoter-level changes. A large block deal could reshape Mphasis’s shareholding pattern and may influence stock movement in the near term.

This remains a developing story, with more clarity expected once Blackstone finalises its plans.

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