Dunearn Investments sells 2% stake in Devyani International

24 Aug 2022 , 07:39 AM

An open market deal on Tuesday saw Temasek Holdings subsidiary Dunearn Investments (Mauritius) Pte Ltd sell more than 2% of the restaurant operator Devyani International for Rs482 crore. An omnichannel eatery, Devyani International is Yum Brands’ biggest franchisee in India.

Dunearn Investments (Mauritius) Pte Ltd sold 2,63,29,516 shares, or 2.18% of the firm, according to bulk trade data made available by BSE.

The transaction value increased to Rs482 crore when the shares were sold at an average price of Rs183.11 per share.

At the conclusion of the June quarter, according to shareholding information filed with the market, Dunearn Investments, a publicly traded shareholder in Devyani International, owned an 8.13% position in the operator of quick service restaurants.

Devyani International’s stock dropped 5.20% to settle at Rs185.85 on the BSE.