Creador Exits Sapphire Foods India, Sells 3.75% Stake for Rs 394 Crore

New Delhi, Aug 7 (PTI) Kuala Lumpur-based private equity firm Creador on Wednesday exited Sapphire Foods India by selling its entire 3.75 per cent stake for Rs 394 crore through an open market transaction while Kotak Mahindra Mutual Fund picked up an additional stake in the omnichannel restaurant operator.


Sapphire Foods India Ltd (SFIL) is an omnichannel restaurant operator and the largest franchisee of Yum! Brands such as KFC, Pizza Hut, Taco Bell etc in India, Sri Lanka and Maldives.


According to the bulk deal data available on the National Stock Exchange (NSE), Creador through its affiliate Arinjaya (Mauritius) Ltd -- one of the promoters in Sapphire Foods India -- sold 23,90,503 shares amounting to a 3.75 per cent stake in the restaurant operator.


The shares were disposed of at an average price of Rs 1,649.94 apiece, taking the deal value to Rs 394.42 crore.


After the share sale, the combined shareholding of promoter and promoter group entities in SFIL has declined to 27.07 per cent from 30.82 per cent.


Meanwhile, Kotak Mahindra Mutual Fund purchased 5.99 lakh shares or 0.94 per cent stake in Sapphire Foods India at an average price of Rs 1,650 per piece.

Details of other buyers of SFIL's shares could not be ascertained.


Shares of Sapphire Foods India fell 1.65 per cent to close at Rs 1,628.95 apiece on the NSE.


Last month, Sapphire Foods India posted its first quarter earnings for FY25 with profit at Rs 8.52 crore, down 65.8 per cent in comparison to Rs 24.94 crore during the corresponding quarter of FY24.


It posted a revenue from operations at Rs 718.29 crore, up 9.8 per cent as against Rs 654.38 crore during the first quarter of previous financial year.


In December last year, Creador through its arm Arinjaya (Mauritius) Ltd, a promoter entity of SFIL, offloaded a 4.2 per cent stake in the company for Rs 378 crore.