Sapphire Foods Promoter Entities Pare Stake For Rs 530.2 Crore

Two promoters of Sapphire Foods India Ltd. have pared their stake in the company for Rs 530.2 crore through open market transactions on Monday.

Sapphire Foods Mauritius Ltd. sold 33.37 lakh shares, representing 5.24% equity, for Rs 467.2 crore, according to block deal data available on the BSE. The firm had a shareholding of 29.28% in the restaurant operator as of September.

Samara Capital Partners Fund offloaded its entire 0.71% shareholding for Rs 63 crore.

HDFC Mutual Fund bought 22 lakh shares (3.45%) for Rs 308 crore, while the Government of Singapore mopped up 10.05 lakh shares (1.57%) for Rs 140.78 crore. The latter owned a 1.83% stake in Sapphire Foods as of September.

The shares were sold and bought at Rs 1,400 apiece.

The company is a major quick-service restaurant operator and runs over 800 KFC, Pizza Hut, and Taco Bell outlets across India, Sri Lanka, and the Maldives.

Shares of Sapphire Foods India closed 0.26% lower at Rs 1,402.95 apiece, as compared to a 0.24% decline on the BSE Sensex.