WWD Ruby exits Sapphire Foods, pares 4.77% stake for over Rs 417 cr

Illustration: Ajay Mohanty

WWD Ruby has sold its entire 4.77 per cent stake in restaurant chain operator Sapphire Foods India Ltd for more than Rs 417 crore through open market transactions.

Investors lifted shares, including Nomura, Societe Generale and Goldman Sachs (Singapore) Pte.

According to data from Big Deals with the National Stock Exchange (NSE), WWD Ruby has sold a total of 30,30,215 shares, equivalent to 4.77 percent, in the restaurant chain operator.

The data showed that shares were divested at an average price of Rs 1,377.1 crore per lot, resulting in a deal size of Rs 417.3 crore.

In December 2022, WWD Ruby sold Scripps’ 30.45 lakh or 4.8 per cent stake in Sapphire Foods.

Sapphire Foods is the multi-channel restaurant operator and largest franchisee of Yum! brands in the Indian subcontinent.

Shares of Sapphire Foods settled up 1.37 percent at 1,410.05 rupees on the New York Stock Exchange on Tuesday.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)

First published: June 27, 2023 | 11:46 p.m ist