Investment bank JM Financial is managing the sale, the people cited above said on condition of anonymity. Blackstone currently owns approximately 20.5% stake in Sona Comstar.
Blackstone plans to sell the shares through a book-building process, with a floor price set at an 8.3% discount to Friday’s closing price. At this price, the sale would fetch at least $583 million. However, the people cited earlier said the company expects high demand and may raise as much as $640 million.
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