Two entities offload Sapphire Foods shares worth Rs 919 crore

Two entities on Thursday offloaded shares of restaurant operator Sapphire Foods India worth over Rs 919 crore through open market transactions.

Sapphire Foods India Ltd (SFIL) is an omnichannel restaurant operator and the largest franchisee of Yum! Brands in the Indian subcontinent.

Sapphire Foods Mauritius Ltd offloaded 37,79,600 shares in six tranches, while WWD Ruby sold 30.45 lakh scrips in 12 tranches, amounting to 5.9 per cent and 4.8 per cent stake in the company, respectively, according to block deal data available with the BSE.

The shares were disposed of at an average price of Rs 1,347 apiece, taking the transaction size to Rs 919.27 crore.

Sapphire Foods Mauritius Ltd is a promoter entity of SFIL, while WWD Ruby is a public shareholder of the company.

Post the transaction, the shareholding of Sapphire Foods Mauritius will reduce to 32.14 per cent from 38.04 per cent while that of WWD Ruby will be trimmed from 9.77 per cent to nearly 5 per cent.

The buyers included Kotak Mutual Fund (MF), Mirae Asset MF, Nippon India MF, Societe Generale, Goldman Sachs Singapore Pte, Government of Singapore and ICICI Prudential Life Insurance Company, among others.

On Thursday, shares of Sapphire Foods India closed 2.83 per cent higher at Rs 1,398.50 per scrip on BSE.

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