Latest News | Investor Sells 8.45 Pc Holding in R Systems for Rs 465 Crore; Goldman Sachs Picks Up Stake

New Delhi, Oct 4 (PTI) Investor Bhavook Tripathi on Friday trimmed its stake in R Systems International by divesting an 8.45 per cent stake to investors like Goldman Sachs, DSP Mutual Fund (MF), and Sundaram MF for Rs 465 crore through open market transactions.

After the stake sale, Tripathi's holding has come down to 20.58 per cent from 29.03 per cent. However, he will remain the largest non-promoter shareholder/public shareholder of Noida-based R Systems.

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According to the block deal data available on the BSE, Tripathi offloaded 99,99,995 shares in eight transactions, amounting to an 8.45 per cent stake in the IT firm.

The shares were sold at an average price of Rs 465.15 apiece, taking the transaction value to Rs 465.15 crore.

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Sundaram Mutual Fund, DSP Mutual Fund, Emerging Business Fund, Siddharth Iyer, Jagdish Naresh Master, Goldman Sachs, Dublin-based investment management firm Mediolanum International Funds and Carnelian Asset Management & Advisors were among the buyers of R Systems' shares on the BSE.

R Systems is a leading digital product engineering company that designs and builds next-gen products, and platforms, empowering clients across various industries.

Meanwhile, Blackstone Inc, promoter of R Systems, owned a 51.93 per cent stake in the company.

Blackstone is an alternative asset manager. As of June 2024, the New York-headquartered investment management company has more than USD 1.1 trillion in total assets under management.

Shares of R Systems International jumped 7.28 per cent to close at Rs 504 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)