Blackstone said to weigh $500 million India IPO for PGP Glass
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Blackstone Inc. is considering an initial public offering for Indian glass packaging maker PGP Glass Pvt. in Mumbai that could raise as much as $500 million, according to people familiar with the matter. Blackstone is in talks with banks about the proposed share sale and is seeking a valuation of as much as $4 billion, the people said, asking not to be identified because the information is private. Deliberations are at an early stage, and details, including the valuation and size of the offering, could change, the people said. A representative for Blackstone declined to comment. Share sales in India climbed to a record last year, and the pipeline remains strong. Kotak Mahindra Capital Co. and Goldman Sachs Group Inc. estimate that IPO fundraising this year could reach as much as $25 billion, up about 14% from the 2025 high. PGP Glass, previously known as Piramal Glass is specializes in the design, production, and decoration of glass packa...