R Systems to merge Velotio, Scaleworx with itself; stock gains over 3%

R Systems shares zoom: Shares of digital product engineering company, R Systems, climbed 3.38 per cent to hit Rs 513.60 on the BSE during the intra-day deals on Wednesday. The uptick in the stock price came following the company's announcement that its board of directors has approved the amalgamation of Velotio Technologies and Scaleworx Technologies with R Systems.

"The Board of Directors of R Systems International Limited, after considering the recommendations of the Audit Committee and the Committee of Independent Directors, at its meeting held today, September 11, 2024, has, inter alia, approved the Composite Scheme of Amalgamation of Velotio Technologies Private and Scaleworx Technologies with the Amalgamated Company," R Systems said in a regulatory filing on the BSE on Wednesday.

R Systems is a leading digital product engineering company that designs and develops chip-to-cloud software products, platforms, and digital experiences that empower its clients to achieve higher revenues and operational efficiency. R Systems uses its expertise in automation and integration including RPA and No-Code-Low-Code platforms to help enterprises across these verticals achieve their OKRs. The company delivers this by helping them digitise entire value chains and infuse intelligent automation.

The company enjoys a market capitalisation of Rs 5,990.29 crore on the BSE as of September 11, 2024. R Systems is a constituent of the BSE SmallCap index on the BSE.

R Systems shares have jumped 8.71 per cent in the last one month and 12.63 per cent in the last six months, while they dropped 2.12 per cent in the last one year.

Shares of R Systems have a 52-week range of Rs 599 - 371.05 on the BSE.

At around 13:14 PM, R Systems shares were quoted trading at Rs 505.60, up 1.77 per cent from the previous close. Nearly 5,826 equities worth Rs 29.14 crore exchanged hands on the BSE today. The company's stock is currently 15 per cent shy of its 52-week high of Rs 599 on the BSE, which it touched on December 18, 2023.