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

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

The shares were lapped up by investors, including Nomura, Societe Generale, and Goldman Sachs (Singapore) Pte.

According to bulk deal data with the National Stock Exchange (NSE), WWD Ruby sold a total of 30,30,215 shares, amounting to a 4.77 per cent stake, in the restaurant chain operator.

The shares were divested at an average price of Rs 1,377.1 apiece, translating into a transaction size of Rs 417.3 crore, the data showed.

In December 2022, WWD Ruby sold 30.45 lakh scrips or a 4.8 per cent 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 were settled 1.37 per cent higher at Rs 1,410.05 on the NSE on Tuesday.