Blackstone arm GSO Capital Partners sells 11% in Tanla Platforms for $78.5m

Blackstone Group LP headquarters stands in New York, U.S., on Friday, April 14, 2017. Photograph: Victor J. Blue/Bloomberg

Private equity firm Blackstone on Tuesday sold 15 million shares (or 11.03%) in Tanla Platforms for 587 crore in open market transactions.

According to bulk deal data on BSE, Banyan Investments Ltd sold 15 million shares (or 11.03%) of Tanla Platforms for 391.30 apiece aggregating to 586.95 crore.

As per the latest shareholding pattern, Banyan Investments Ltd holds 16.17% stake in the firm.

Last year, Tanla Platforms Ltd completed the acquisition of Karix Mobile Pvt Ltd and its wholly-owned subsidiary Unicel Technologies Pvt Ltd from Banyan Investments Ltd, a company owned by funds affiliated with GSO Capital Partners L.P. for a consideration of 340 crore. GSO is the credit arm of Blackstone.

Amansa Investments Ltd, American Funds Insurance Series A/c International Fund bought 3% and 6.32% stake in Tanla Platforms Ltd for 160 crore and 337 crore, respectively.

Tanla Platforms Ltd reported a net profit for the second quarter ended September 2020 at 81.5 crore as against a net loss of 47.01 crore for the corresponding quarter of the previous year. Revenue stood at 583.2 crore, for the September quarter registering an increase of 19.7% year-on-year.

Shares of Tanla Solutions gained 5% to close at 415, while the benchmark index, Sensex rose 0.72% to close at 43,952.71 points on Tuesday on BSE.

This story was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.