Private equity giant acquires majority stake in this small-cap IT companny. Do you own it?

The massive surge in the stock price occurred after the company announced that private equity giant Blackstone, made an offer to acquire a majority stake of 52 per cent at Rs 245 per share

Shares of R Systems International touched the 20 per cent upper circuit level of Rs 281.25 per share witnessing a spurt in volume more than 24 times. At 12:33 pm, the shares traded at Rs 274.4, a 16.74 per cent gain from the previous closing price of Rs 235.05.

The massive surge in the stock price occurred after the company announced that private equity giant Blackstone, made an offer to acquire a majority stake of 52 per cent at Rs 245 per share. According to the official release by Blackstone, they have signed definitive agreements with the CEO and founder Satinder Singh Rakhi and other promoters to commit up to Rs 2904 crore. Blackstone will also launch a conditional delisting offer at a price of Rs 246 per share, while Dr Rekhi will continue to guide the company in his role as non–executive director.

R Systems is one of the leading providers of Information Technology services like artificial intelligence, analytics and specialises in digital product engineering. The firm partners with customers to enable or elevate their digital transformation with diversified digital offerings. Services and solutions span over four major business verticals - technology, media, telecom and financial services. R System’s revenue for the last twelve months, as of September 30, 2022, was Rs 1,445 crore, registering a 36% YoY growth.

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