Investor holding 8.45% in R Systems at Rs. 465 crore sold; Goldman Sachs bought the stake

Investor Bhavuk Tripathi on Friday sold his 8.45 per cent stake in R Systems International to investors such as Goldman Sachs, DSP Mutual Fund (MF), and Sundaram MF for Rs. 465 crore was sold through an open market transaction. After the stake sale, Tripathi’s holding has come down from 29.03 percent to 20.58 percent. However, it will remain the largest non-promoter shareholder/public shareholder of Noida-based R Systems.

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

Shares sold at an average of Rs. 465.15, with a transaction value of Rs. 465.15 crores.

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-generation products and platforms empowering customers across industries.

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Meanwhile, Blackstone Inc, the promoter of R Systems, holds 51.93 percent stake in the company.

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

Shares of R Systems International rose 7.28 percent on the BSE to Rs. was closed at 504.

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