Blackstone Group Inc (NYSE: BX) has offered to acquire an additional 26% stake in Indian IT outsourcing service provider, Mphasis Ltd, for $1.1 billion (₹82.6 billion), Mint reports. Blackstone had acquired a 60.5% equity interest in Mumbai-listed Mphasis from Hewlett Packard Enterprise Co (NYSE: HPE) at ₹430 per share in 2016 to tap India's double-digit IT industry growth. Three Blackstone entities have offered to acquire an additional 49.3 million shares in Mphasis at ₹1,677.16 per share signifying a 1.1% discount the Friday closing share price, Bloomberg reports. Blackstone's move is in sync with its plans to drive investment in the South Asian nation. Blackstone Capital Partners VI fund's plan to divest a 55.31% equity interest in Mphasis to an entity under Blackstone Capital Partners VIII and Blackstone Capital Partners Asia funds led to the offer. Blackstone has earmarked up to $2.8 billion for the controlling stake. Mphasis offered IT outsourcing services to global companies, including cloud computing services and digital processes for businesses. The company's partners and clients include Adobe Inc (NASDAQ: ADBE) and Amazon.Com Inc (NASDAQ: AMZN) Amazon Web Services, according to its website. Price Action: BX shares closed at $87.22 on Friday. See more from BenzingaClick here for options trades from BenzingaApple Hikes 5-Year US Investment Commitments To 0BBrooks Automation To Acquire Precise Automation For M© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.