Sapphire Foods India Block Deal: 30.3 lakh shares change hands at Rs 1,377 apiece

Shares of Sapphire Foods India changed hands in a block deal on Tuesday.  30.3 lakh shares of the restaurant and food services company changed hands in the block deal window at Rs 1,377 per share. The buyers and sellers in the deal are not known.

It was reported on Monday that the KFC and Pizza Hut's India holder was likely to sell three million shares in a block deal to raise $51 million through a placement. The block deal was expected at Rs 1,345-1,391 per share to enable the shareholder to divest a portion of their holdings in Sapphire Foods India.

Sapphire Foods, one of the largest restaurant operators in the Indian subcontinent, is backed by a consortium of Samara Capital, Goldman Sachs, CX Partners, and Edelweiss Private Equity. The company operates more than 400 KFC, Pizza Hut and Taco Bell restaurants across India, Sri Lanka and the Maldives.