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Blackstone to pick up majority stake in R Systems

Blackstone to pick up majority stake in R Systems

A little of people might know Bhavook Tripathi. But most people in Mumbai’s flashy financial markets do not know him. Who is Bhavook Tripathi? He is a business tycoon from Pune who is holding a net worth of around Rs 1000 crores. But you will be amazed after knowing that his net worth is possessed in a single stock which is the success key for Bhavook Tripathi. He has the global private equity major Blackstone’s multi-million dollar takeover deal of R Systems. In this article, we will tell you some interesting facts about Bhavook Tripathi and R Systems International. So stick with this column and read it till the last line. Drag down the screen and learn the information given in the below-placed sections. Follow more updates on Newsminatii.in

Blackstone to pick up majority stake in R Systems

R Systems International is a leading information technology and BPO service provider in the market. And Bhavook Tripathi’s Blackstone holds the majority stakes of this largest technology information and BPO service provider company. Generally, an acquirer makes a regulatory requirement of a 26% stake but in this case, Bhavook Tripathi’s Blackstone announced a 38% stake conditional open offer to buy. Keep reading this article and must take a look at the further section for more information.

This development was made on Thursday, November 17, 2022, when Blackstone entered into a deal to buy a majority stake in Satinder Singh Rekhi’s company. According to the reports, Bhavook Tripathi’s Blackstone will buy the 52 per cent stake of the promoters for $359 million which is equal to Rs 2904 crore. R Systems International’s share price zoomed 15.66 per cent to close at Rs 271,10 on BSE with its market-cap touching Rs 3200 crore. But what is the condition which was cited in an open offer? Read about it in the further given section. Kindly scroll down the page and read this information.

The key condition that should be followed is that Blackstone can cancel the deal of purchasing the stake with the company promoters if at least 38 per cent stake in the company is not tendered in the open offer. Market experts say that normally Blackstone not only acquires a controlling stake but also backlists the company from the bourses since it likes to be the single-largest beneficiary in a company’s growth. Stay tuned to this website for more updates and details.

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