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Promoter entity of Sapphire Foods India divests 4.2% stake worth Rs 378 cr
Promoter entity of Sapphire Foods India Arinjaya (Mauritius) Ltd on Tuesday pared a 4.2 per cent stake in the restaurant operator for Rs 378 crore through an open market transaction.
Sapphire Foods India Ltd (SFIL) is an omnichannel restaurant operator and the largest franchise of Yum Brands such as KFC, Pizza Hut, Taco Bell etc in India and Sri Lanka.
According to the bulk deal data available with the BSE, Arinjaya (Mauritius) Ltd offloaded 27 lakh shares, amounting to a 4.2 per cent stake in Sapphire Foods India.
The shares were sold at an average price of Rs 1,400.01 apiece, taking the transaction value to Rs 378 crore.
After the transaction, Arinjaya (Mauritius) Ltd's shareholding has declined to 3.79 per cent from 7.99 per cent in Sapphire Foods India.
Meanwhile, the Singapore government acquired more than 20.19 lakh shares of Sapphire Foods India at the same price.
Shares of Sapphire Foods India fell 1.67 per cent to close at Rs 1,422.50 apiece on the BSE.
In another bulk