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 "Divestment, privatization, sale of stakes, disinvestment")
Shares of R Systems International jumped 7.28 per cent to close at Rs 504 apiece on the BSE.
Investor Bhavook Tripathi on Friday reduced his stake in R Systems International by selling 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 stake fell to 20.58 per cent from 29.03 per cent. However, he will remain the largest non-promoter/public shareholder in Noida-based R Systems.
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As per block deal data available on the BSE, Tripathi sold 99,99,995 shares in eight transactions, representing a stake of 8.45 per cent in the IT company.
The shares were sold at an average price of Rs 465.15 apiece, taking the transaction value to Rs 465.15 crore.
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 shares Systems at ESB.
R Systems is a leading digital product engineering company that designs and builds next-generation products and platforms, empowering customers across diverse industries.
Meanwhile, Blackstone Inc, promoter of R Systems, held a 51.93 percent stake in the company.
Blackstone is an alternative asset manager. As of June 2024, the New York-based investment management firm managed more than $1.1 trillion in total assets.
Shares of R Systems International jumped 7.28 per cent to close at Rs 504 apiece on the BSE.
(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First publication: October 4, 2024 | 9:36 p.m. STI