Goldman Sachs, DSP MF Snap Up R Systems Shares in Rs 465 Crore Block Deal as Investor Offloads 8.45% Stake

Investor Bhavook Tripathi has reduced his stake in R Systems International by selling 8.45% of the company’s shares for Rs 465 crore through open market deals on Friday. The buyers include big names like Goldman Sachs, DSP Mutual Fund, and Sundaram Mutual Fund.

Before the sale, Tripathi held a 29.03% stake in R Systems, but after selling 99,99,995 shares, his stake dropped to 20.58%. Despite this, Tripathi remains the largest non-promoter shareholder in the Noida-based IT company.

The shares were sold at an average price of Rs 465.15 per share, bringing the total value of the transaction to Rs 465.15 crore.

Among the other buyers were Mediolanum International Funds, Carnelian Asset Management, Emerging Business Fund, and investors like Siddharth Iyer and Jagdish Naresh Master.

R Systems is a digital product engineering company that helps clients design and build next-generation products and platforms across various industries.

Blackstone Inc., the promoter of R Systems, still holds a 51.93% stake. Blackstone is a global investment management company with more than USD 1.1 trillion in assets as of June 2024.

Shares of R Systems International rose 7.28% after the sale, closing at Rs 504 on the BSE.