In a strategic move to raise funds for expansion and growth, Sapphire Foods India, one of the leading restaurant and food services companies in the country, announced on Monday, June 26, that one of its major stakeholders is set to sell 3 million shares via a block deal, reported Bloomberg.
Simultaneously, the company's shareholder plans to raise an additional $51 million through a placement.
The block deal, scheduled to take place at a price range of 1,345-1,391 per share, will enable the shareholder to divest a portion of their holdings in Sapphire Foods India.
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