Five entities sell 11% stake in FMCG firm Hindustan Foods for Rs 638 crore

Five entities on Wednesday sold an 11 per cent stake in FMCG firm Hindustan Foods for Rs 638 crore through open market transactions.

Jwalamukhi Investment Holdings, Infinity Consumer Holdings, WestBridge AIF I, Sixth Sense India Opportunities 11, and Konark Trust offloaded shares of Hindustan Foods through five separate block deals on the National Stock Exchange (NSE).

A total of 12.7 million shares, or 11 per cent stake, in Hindustan Foods were pared by these five entities on the exchange.

As per the data available, Jwalamukhi Investment Holdings sold 6.28 million shares of Hindustan Foods, Infinity Consumer Holdings offloaded 31 lakh scrips, WestBridge AIF I disposed of 2.39 million shares of the company.

In addition, Sixth Sense India Opportunities 11 offloaded 700,000 shares of Mumbai-based Hindustan Foods, and Konark Trust sold 236,000 scrips of the company.

The shares were disposed of at an average price of Rs 502 apiece, taking the combined deal size to Rs 638.40 crore.

After the stake sale, WestBridge AIF I, an arm of WestBridge Capital, exited the firm by selling its entire -- 2.09 per cent stake -- in the FMCG company.

HSBC Mutual Fund (MF), Nippon India MF, Aditya Birla Sun Life Insurance Company, ICICI Prudential Life Insurance, Clarius Capital 1, Samsung India, Tara Emerging Asia Liquid Fund, and Morgan Stanley Asia Singapore, were among the buyers of shares of Hindustan Foods.

Shares of Hindustan Foods jumped 5.54 per cent to close at Rs 534.90 apiece on the NSE.

In a separate transaction on the NSE, Affle Holdings Pte, one of the promoters of Affle (India), divested a 1.8 per cent stake in the IT company for Rs 322 crore through an open market transaction.

According to the bulk deal data available on the NSE, Affle Holdings sold 2.5 million shares, amounting to a 1.8 per cent stake in Affle (India) Ltd.

The shares were offloaded at an average price of Rs 1,290 apiece, taking the deal value to Rs 322.50 crore.

After the latest transaction, the combined stake of promoter and promoter group entities of global technology company Affle (India) has reduced to 55.12 per cent from 56.92 per cent.

Meanwhile, Monetary Authority of Singapore and ICICI Prudential MF acquired a total of 2.39 million shares of Affle (India) at the same price.

This took the deal value to Rs 308.57 crore.

Details of the other buyers of Affle (India) shares could not be ascertained.

The scrip of Affle (India) climbed 5.73 per cent to settle at Rs 1,364 apiece on the NSE.