Devyani International, the Quick Service Restaurant (QSR) operator, is the franchisee for Yum Brands, which operates KFC, Pizza Hut and Taco Bell in India
New Delhi: Yum Restaurants India on Wednesday sold its entire 4.4% stake in Devyani International for Rs 871 crore through an open market transaction.
Devyani International, the Quick Service Restaurant (QSR) operator, is the franchisee for Yum Brands, which operates KFC, Pizza Hut and Taco Bell in India.
SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, HDFC Standard Life Insurance, Ghisallo Master Fund LP, Singapore Government, Societe Generale, Goldman Sachs and Morgan Stanley Asia Singapore were among the buyers of Devyani International’s shares.
According to the block deal data available on the National Stock Exchange (NSE), Yum Restaurants India offloaded 5,30,83,330 shares, amounting to its 4.4% stake in Devyani International.
The shares were offloaded at an average price of Rs 164.10 apiece, taking the transaction value to Rs 871 crore.
At the end of December 2023, Yum Restaurants held over 5.30 crore shares, representing a 4.40% stake in Devyani International.
Shares of Devyani International gained 1.24% to close at Rs 167.80 apiece on the NSE on Wednesday.
In a separate block deal on NSE, QRG Investments and Holdings sold shares of Campus Activewear for Rs 100 crore.
QRG Investments and Holdings offloaded 40.65 lakh shares at an average price of Rs 245 apiece. The deal value is Rs 99.59 crore. as per NSE data.
Meanwhile, SBI Mutual Fund acquired shares of Campus Activewear at the same price.
On Wednesday, shares of Campus Activewear jumped 3.24% to settle at Rs 253 per piece on NSE.
