 "Burger King")
A promoter of Restaurant Brands Asia, which owns Burger King brand in India, on Friday divested a 25.3 per cent stake in the firm for Rs 1,494 crore through an open market transaction.
Everstone Capital through its investment vehicle Qsr Asia Pte Ltd offloaded the shares of the Restaurant Brands Asia on the NSE and the latter is a part of Singapore-headquartered Everstone Group.
Amal N Parikh, Tata Mutual Fund (MF), Quant MF, Plutus Wealth Management LLP, Franklin Singapore 3 Banken Asia Stock-Mix, Avendus Absolute Return Fund, ICICI Prudential Life Insurance, Goldman Sachs, TD Emerging Markets Fund and Societe Generale, among others were the buyers of the shares.
According to the block deal data available with the NSE, Qsr Asia Pte sold 12,54,41,820 shares, amounting to a 25.3 per cent stake in Restaurant Brands Asia.
The shares were disposed of at an average price of Rs 119.10 apiece, taking the transaction value to Rs 1,494 crore.
After the transaction, Qsr Asia Pte's shareholding has declined to 15.44 per cent from 40.80 per cent in Restaurant Brands Asia (RBA).
Shares of Restaurant Brands Asia jumped 6.36 per cent to close at Rs 127.95 apiece on the NSE.
In a exchange filing, the company confirmed that its promoter Qsr Asia Pte has sold more than 12.54 crore shares, amounting to a 25.36 per cent in RBA.
The deal value to the transaction is worth Rs 1,494 crore.
Restaurant Brands Asia Ltd is the leading quick service restaurants chain operator of Burger King India and Popeyes in the country.
It is the second-largest fast-food chain which opened its first restaurant in India in 2014.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
