Promoter entities of Sapphire Foods divests 5.9% stake for Rs 530 crore

Two promoter entities of Sapphire Foods India on Monday pared a 5.9 per cent stake in the restaurant operator for Rs 530 crore through open market transactions.

Samara Capital Partners Fund II Ltd and Sapphire Foods Mauritius were the entities that sold the shares of Sapphire Foods India Ltd (SFIL).

SFIL is an omnichannel restaurant operator and the largest franchise of Yum Brands such as KFC, Pizza Hut, Taco Bell etc in India and Sri Lanka.

According to the bulk deal data available with the BSE, Samara Capital Partners Fund II offloaded 4,49,999 shares and Sapphire Foods Mauritius disposed of 33,37,423 shares, amounting to 0.71 per cent and 5.24 per cent stake, respectively, in Sapphire Foods.

The shares were sold at an average price of Rs 1,400 apiece, taking the transaction value to Rs 530.24 crore.

After the latest transaction, Samara Capital Partners Fund II exited the firm by selling 4.49 lakh shares, representing a 0.71 per cent stake in SFIL.

Also, another promoter entity Sapphire Foods Mauritius' shareholding has declined to 24.04 per cent from 29.28 per cent stake.

Meanwhile, the Singapore government picked up 10.05 lakh shares, while HDFC Mutual Fund acquired 22 lakh shares of Sapphire Foods, as per the data.

The shares were purchased at Rs 1,400 per scrip, taking the deal size to Rs 448.78 crore. On the BSE, Sapphire Foods India's shares fell 0.26 per cent to close at Rs 1,402.95 apiece.

Earlier this month, Arinjaya (Mauritius) Ltd, a promoter entity of SFIL, offloaded a 4.2 per cent stake in the restaurant operator for Rs 378 crore.

Last year in December, two entities, including promoter Sapphire Foods Mauritius, disposed of shares of Sapphire Foods worth over Rs 919 crore.

In a separate bulk deal, three entities on Monday divested a 3.4 per cent stake in Archean Chemical Industries for Rs 252 crore through open market transactions.

India Resurgence Fund - Scheme 1, India Resurgence Fund - Scheme 2, and Piramal Natural Resources were the entities that sold a total of 42 lakh shares, amounting to a 3.4 per cent stake in Archean Chemical Industries, as per the data on the NSE.

India Resurgence Fund (IndiaRF) is an India-focused distressed investment platform, sponsored by Piramal Enterprises Ltd (PEL) and US-based Bain Capital Credit.

The shares were offloaded in the price range of Rs 600-601 per piece, taking the aggregate deal value to Rs 252.11 crore.

Tata AIA Life Insurance bought 14.06 lakh shares, DSP Mutual Fund picked up 10 lakh shares, and Goldman Sachs purchased more than 6.23 lakh shares in Archean Chemical Industries, as per the data.

On Monday, the scrip of Archean Chemical Industries declined 3.32 per cent to close at Rs 609.50 apiece on the NSE.