Yum Restaurants India on Wednesday sold its entire 4.4% stake in Devyani International for INR 871 crore through an open market transaction.
Devyani International, the Quick Service Restaurant (QSR) operator, is the franchisee for Yum Brands, which operates KFC, Pizza Hut and Taco Bell in India.
SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, HDFC Standard Life Insurance, Ghisallo Master Fund LP, the Singapore Government, Societe Generale, Goldman Sachs, and Morgan Stanley Asia Singapore were among the buyers of shares in Devyani International.
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According to the block deal data available on the National Stock Exchange (NSE), Yum Restaurants India offloaded 5,30,83,330 shares, amounting to its 4.4% stake in Devyani International.
The shares were offloaded at an average price of INR 164.10 apiece, taking the transaction value to INR 871 crore.
At the end of December 2023, Yum Restaurants held over 5.30 crore shares, representing a 4.40% stake in Devyani International.
On Wednesday, shares of Devyani International rose by 1.24%, ending the day at INR 167.80 apiece on the NSE.
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