Promoter entity of Sapphire Foods India divests 4.2% stake worth Rs 378 cr

Promoter entity of Sapphire Foods India Arinjaya (Mauritius) Ltd on Tuesday offloaded 4.2 per cent stake in the restaurant operator for Rs 378 crore in an open market transaction.

Sapphire Foods India Ltd (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 data available on the bulk deal with the BSE, Arinjaya (Mauritius) Ltd has sold 27 lakh shares, amounting to a 4.2 per cent stake in Sapphire Foods India.

The shares were sold at an average price of Rs 1,400.01 each, taking the transaction value to Rs 378 crore.

Following the transaction, Arinjaya (Mauritius) Ltd's stake has fallen from 7.99 percent in Sapphire Foods India to 3.79 percent.

Meanwhile, the Singapore government acquired over 20.19 lakh shares of Sapphire Foods India at the same price.

Shares of Sapphire Foods India fell 1.67 percent to end at Rs 1,422.50 apiece on the BSE.

In another bulk deal on the NSE, private equity firm Fireside ventures has offloaded a 1.9 per cent stake in Mamaearth's parent Honasa Consumer for Rs 230 crore in an open market transaction.

After the sale of shares, shares of Honasa Consumer fell 4.41 percent to close at Rs 367.15 apiece on the NSE.

Fireside Ventures, through its subsidiary Fireside Ventures Investment Fund I, has sold 60,88,730 shares, representing a 1.9 percent stake in Honasa Consumer Ltd, according to the data.

The shares were sold at an average price of Rs 378 each, taking the total deal size to Rs 230.15 crore.

Norges Bank bought 24,98,744 shares of Honsla Consumer at the same price.

Honasa Consumer was founded in 2016 by Ghazal Alagh and her husband Varun Alagh. The beauty and personal care company launched the Mamaearth brand and added five more brands including The Derma Co, Aqualogica, Ayuga, BBlunt and Dr Sheth's.

The Gurugram-based company built a 'House of Brands' architecture.