WWD Ruby Sells Entire 4.77% Stake & exits Sapphire Foods for Over Rs 417 Crore

28 Jun 2023 , 10:33 AM

WWD Ruby, a major stakeholder, has sold its 4.77 % stake in Sapphire Foods India Ltd through open market transactions. The stake sale amounted to over Rs 417 crore, attracting investors such as Nomura, Societe Generale, and Goldman Sachs (Singapore) Pte.

WWD Ruby divested 30,30,215 shares, representing a 4.77 % stake in the restaurant chain operator. The shares were sold at an average price of Rs 1,377.1 per share, resulting in a transaction size of approximately Rs 417.3 crore.

In December 2022, WWD Ruby previously sold 30.45 lakh scrips or a 4.8 % stake in Sapphire Foods. Sapphire Foods is an omnichannel restaurant operator and the largest franchisee of Yum! Brands in the Indian subcontinent. Shares of Sapphire Foods settled 1.37 % higher at Rs 1,410.05 on the NSE following the stake sale.