Sapphire Foods India Promoter Divests 4.2% Stake for Rs 378 Cr

New Delhi, Dec 5 (PTI) Promoter entity of Sapphire Foods India Arinjaya (Mauritius) Ltd on Tuesday pared a 4.2 per cent stake in the restaurant operator for Rs 378 crore through 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 the bulk deal data available with the BSE, Arinjaya (Mauritius) Ltd offloaded 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 apiece, taking the transaction value to Rs 378 crore.

After the transaction, Arinjaya (Mauritius) Ltd's shareholding has declined to 3.79 per cent from 7.99 per cent in Sapphire Foods India.

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

Shares of Sapphire Foods India fell 1.67 per cent to close at Rs 1,422.50 apiece on the BSE.

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

Following the stake sale, shares of Honasa Consumer declined 4.41 per cent to close at Rs 367.15 apiece on the NSE.

Fireside Ventures through its affiliate -- Fireside Ventures Investment Fund I -- offloaded 60,88,730 shares, representing a 1.9 per cent stake in Honasa Consumer Ltd, as per the data.

The shares were disposed of at an average price of Rs 378 apiece, taking the aggregate deal size to Rs 230.15 crore.

Norges Bank purchased 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 brand Mamaearth 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.