Malaysian private equity firm Creador on Wednesday sold its entire 3.75 percent stake in Sapphire Foods India through an open market transaction. The company made this deal for Rs 394 crore and closed its entire business from Sapphire Foods India. On the other hand, Kotak Mahindra Mutual Fund has increased its stake in this restaurant operator firm.
Creador sold 23,90,503 shares of Sapphire Foods India
Sapphire Foods India Limited (SFIL) is the largest franchisee operating major restaurant brands such as KFC, Pizza Hut and Taco Bell in India, Sri Lanka and Maldives. According to data available on the bulk deal on the National Stock Exchange (NSE), Creador, through its associate unit Arinjaya (Mauritius) Limited, sold all its 23,90,503 shares in Sapphire Foods India, equivalent to 3.75 per cent stake in the company.
The deal was done at a price of Rs 1,649.94 per share
These shares were sold at an average price of Rs 1,649.94 per share, making the value of the deal Rs 394.42 crore. After the sale of shares, the total shareholding of the promoter group and its entities in Sapphire Foods India has come down from 30.82 percent to 27.07 percent.
Kotak Mahindra Mutual Fund bought 5.99 lakh shares at Rs 1650
Meanwhile, Kotak Mahindra Mutual Fund has bought 5.99 lakh shares or 0.94 percent stake in Sapphire Foods India at an average price of Rs 1650 per share. The details of other buyers of Sapphire Foods India Limited shares are not available.
The company’s shares closed with a decline on Wednesday
Let us tell you that on Wednesday, the shares of Sapphire Foods India Limited closed at Rs 1641.45 on the BSE with a decline of Rs 10.75 (0.65 percent). On Tuesday, the company’s shares closed at Rs 1652.20 and on Wednesday they opened with a decline at Rs 1629.20.
With PTI inputs
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