Bhavook Tripathi Divests 8.45% Stake in R Systems International

Investor Bhavook Tripathi sold an 8.45% stake in R Systems International for Rs 465 crore to buyers including Goldman Sachs and DSP Mutual Fund. This brings his stake down to 20.58% while maintaining his status as the largest non-promoter shareholder in the Noida-based IT firm.

Investor Bhavook Tripathi trimmed his stake in R Systems International by 8.45% on Friday. High-profile buyers such as Goldman Sachs, DSP Mutual Fund, and Sundaram Mutual Fund participated in the transaction, which totaled Rs 465 crore.

Following the sale, Tripathi's overall stake in the IT firm reduced from 29.03% to 20.58%. Despite the reduction, he continues to be the largest non-promoter shareholder of the company based in Noida.

The shares, offloaded via block deals on the BSE, were sold at an average price of Rs 465.15 per share. The transaction reflects strong market interest, exemplified by a 7.28% increase in R Systems' share price, closing at Rs 504 apiece.

(With inputs from agencies.)