New Delhi, Aug 7 (PTI) Kuala Lumpur-based private equity firm Creador on Wednesday exited Sapphire Foods India by selling its entire 3.75 per cent stake for Rs 394 crore through an open market transaction while Kotak Mahindra Mutual Fund picked up an additional stake in the omnichannel restaurant operator.
Sapphire Foods India Ltd (SFIL) is an omnichannel restaurant operator and the largest franchisee of Yum! Brands such as KFC, Pizza Hut, Taco Bell etc in India, Sri Lanka and Maldives.
According to the bulk deal data available on the National Stock Exchange (NSE), Creador through its affiliate Arinjaya (Mauritius) Ltd -- one of the promoters in Sapphire Foods India -- sold 23,90,503 shares amounting to a 3.75 per cent stake in the restaurant operator.
The shares were disposed of at an average price of Rs 1,649.94 apiece, taking the deal value to Rs 394.42 crore.
After the share sale, the combined shareholding of promoter and promoter group entities in SFIL has declined to 27.07 per cent from 30.82 per cent.
Meanwhile, Kotak Mahindra Mutual Fund purchased 5.99 lakh shares or 0.94 per cent stake in Sapphire Foods India at an average price of Rs 1,650 per pieceed 74th Birthday Bash With Farah Khan, Vidya Balan, Urmila Matondkar, Dia Mirza & Others">Inside Shabana Azmi’s Star-Studded 74th Birthday Bash With Farah Khan, Vidya Balan, Urmila Matondkar, Dia Mirza & Others