 "Burger King")
Shares of Restaurants Brand Asia soared up to 5 per cent at 113.92 per share on the BSE in Friday’s intraday. This came after the company informed the Indian exchanges about the bulk deal executed on Thursday.
According to data from the BSE website, HDFC Mutual Fund has acquired 4.55 million shares of Burger King’s parent company, representing approximately 0.90 per cent of its total paid-up capital.
The fund purchased shares of Restaurant Brands Asia at Rs 110.46 per share on Thursday, amounting to a total investment of Rs 50.26 crore.
According to reports, HDFC Mutual Fund entered into the small-cap company's shares while global investor Goldman Sachs India Equity Portfolio was reducing its stake.
Reportedly, Goldman Sachs India Equity Portfolio has sold a total of 88,57,188 shares in June 2024, with transactions including 47,97,361 shares at Rs 104.05 on June 25 and 40,59,827 shares at Rs 105.53 on June 14, totaling approximately Rs 92.76 crore divested from its holdings in Restaurant Brands Asia.
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Restaurants Brand Asia is engaged in the business of quick service restaurants in India under the brand name of Burger King and is presently a subsidiary of QSR Asia.
As the national master franchisee of the BURGER KING brand in India the company has exclusive rights to develop establish operate and franchise Burger King branded restaurants in India
At 02:49 PM; the stock of the company was trading 4.76 per cent higher at Rs 113.56 per share on the BSE. In comparison the BSE Sensex fell 0.46 per cent to 79,679.80 levels.
