Edelweiss Crossover Opportunities Fund Sells 4% Stake In Sapphire Foods For Rs 281 Crore
The shares were disposed of at an average price of Rs 1,090 apiece, valuing the transaction size at Rs 281.13 crore.
Edelweiss Crossover Opportunities Fund on Tuesday divested a little over 4% stake in restaurant operator Sapphire Foods for Rs 281 crore through open market transactions.
Sapphire Foods is an omnichannel restaurant operator and the largest franchisee of Yum Brands in the Indian subcontinent.
According to the bulk deal data available with BSE, Edelweiss Crossover Opportunities Fund sold 21,87,378 and 3,91,799 shares of the company in two tranches, amounting to a 4.06% stake in the company.
The shares were disposed of at an average price of Rs 1,090 apiece, valuing the transaction size at Rs 281.13 crore.
Edelweiss, a public shareholder in Sapphire Foods, held a 4.06% stake in the QSR operator at the end of the June quarter, shareholding data with the exchange showed.
Meanwhile, Nippon India Mutual Fund picked up 19,21,708 shares of the company in three tranches at the same price for Rs 209.46 crore.
Shares of Sapphire Foods closed 2.57% higher at Rs 1,133.35 on BSE.
In a separate transaction, Moore Strategic Ventures sold 4.25 crore shares of online food aggregator Zomato for Rs 187 crore through an open market transaction.
According to bulk deal data available with the National Stock Exchange (NSE), Moore Strategic Ventures LLC offloads 4,25,24,900 shares of the company.
The shares were sold at an average price of Rs 44 per scrip.
This took the deal value to Rs 187 crore.
Shares of Zomato closed 12.61% lower at Rs 41.60 on NSE.