Tanla Platforms Hits 5% Upper Circuit As PE Firms Buy Stake From Blackstone Arm

Shares in Tanla Platforms in early trade on November 18, 2020 hit 5% upper circuit. The scrip on the BSE traded at Rs. 435.75, while on the NSE it quotes at Rs. 435.65. This is after two foreign private equity (PE) entities bought stake in the company from GSP Capital Partners through block deals.

Capital Group, the US-based PE firm bought 8.6 million shares of Tanla while the other acquisition in the firm has been made by Singapore-based Amansa Capital which bought 4.08 million shares from GSO Capital Partners. GSO Capital Partners is the hedge fund and credit investment subsidiary of Blackstone group.

Further as per a senior executive, the promoter family has also raised its holding in Tanla by purchasing 1.96 million shares from the Blackstone group's subsidiary.

As per the exchange filing Tanla Platforms previously known as Tanla Solutions was included in MSCI India Domestic Small Cap Index.

Tanla Platforms is a mid-tier software firm that provides cloud communication solutions.

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