Promoter entities sell stake in Sapphire Foods

Mumbai: Two promoter entities of Sapphire Foods, operator of KFC and Pizza Hut chains in India, sold shares worth 530 crore through block deals Monday.

Sapphire Foods Mauritius divested 33.37 lakh shares, constituting 5.24% of the total equity capital, while Samara Capital Partners sold 4.49 lakh shares, equivalent to 0.71% of the total equity, at an average price of Rs 1,400 per share.

Following the block deal, shares of Sapphire Foods fell 3.65% to close at 1,402.95. As of September 30, Sapphire Food Mauritius held a 29.28% stake, and Samara Capital owned a 0.71% stake. The Government of Singapore acquired shares worth 141 crore, while HDFC Mutual Fund purchased shares valued at Rs 308 crore.