Foreign entity Wwd Ruby exits Sapphire Foods via sale of 4.7% stake; 14 funds buy shares

WWD Ruby, a foreign entity, has sold its entire 4.77% stake in Sapphire Foods, the operator of several restaurant chains in India, for INR417 crore ($56.2m), comprising 30,30,215 shares, through an open market transaction. This comes after WWD Ruby’s sale of a 4.8% stake in the company in December 2020. Shares of Sapphire Foods ended 1.4% higher at INR1,410.35 apiece, supported by purchases from institutional investors such as Vanguard, Aditya Birla Sun Life, Nippon, and Goldman Sachs.