Tamara, Pace sell Barbeque Nation shares worth Rs 669 cr

Two entities -- Tamara and Pace -- on Wednesday offloaded shares of casual dining chain Barbeque Nation Hospitality for an estimated Rs 669 crore through open market transactions.

Those who picked up the shares of the Bengaluru-based casual dining chain are -- ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, BNP Paribas Arbitrage, Massachusetts Institute of Technology and TNTBC as The Trustee of Nomura India Stock Mother Fund.

According to bulk deal data available with the National Stock Exchange (NSE), Tamara, part of private equity firm CX Partners, sold a total of 27.55 lakh shares of Barbeque Nation at an average price of Rs 1,153.16-Rs 1,154.99, valuing the transaction at Rs 318 crore.

Pace offloaded 29.93 lakh scrips of the casual dining chain at Rs 1,172.96 apiece, aggregating to Rs 351 crore.

This took the total deal value to about Rs 669 crore.

As of the December quarter, Tamara held a 7.09 per cent stake, while Pace had an 8.19 per cent stake in Barbeque Nation, shareholding data with BSE showed.

The Barbeque Nation scrip closed 5.43 per cent lower at Rs 1,180.90 on BSE.