Foreign fund house Quinag Acquisitions on Thursday sold its entire stake in Manappuram Finance for Rs 1,177 crore through an open market transaction.
Quinag Acquisition (FPI) offloaded 8,37,85,880 shares equivalent to 9.90 per cent stake in Manappuram Finance, according to the bulk deal data available with BSE.
The shares were sold at an average price of Rs 140.50, taking the transaction value to Rs 1,177.19 crore.
At the end of June quarter, Quinag held over 8.37 crore shares, which is equivalent to 9.90 per cent stake in the company, as per the shareholding data available with BSE.
Meanwhile, BofA Securities Europe SA bought 62.60 lakh shares and Chartered Finance and Licy NG bought 50 lakh each of Manappuram Finance.
Shares of Manappuram Finance closed 2.64 per cent lower at Rs 142.25 on the BSE.
In a separate open market transaction on BSE, promoter entity Sapphire Foods Mauritius offloaded 2.5 per cent stake in restaurant operator Sapphire Foods India for Rs 220 crore.
Sapphire Foods India is one of the biggest franchisee of Yum! Brands Inc. in the Indian subcontinent.
According to block deal data available with BSE, Sapphire Foods Mauritius sold over 16.24 lakh shares, which is equivalent to 2.5 per cent stake in Sapphire Foods India.
The shares were sold at an average price of Rs 1,355 per piece, taking the total transaction value to Rs 220.16 crore.
These shares were acquired by WMP Dublin plc Emerging Markets Opportunities Portfolio, WTCNAM Common Trust Funds Trust Emerging Markets Opportunities Portfolio and New York State Common Retirement Fund and Sprugos Investments VIII.
Shares of Sapphire Foods India closed at Rs 1,367, up 0.45 per cent, on the BSE.
Last December, promoter entity Sapphire Foods Mauritius sold 5.9 per cent stake in Sapphire Foods for Rs 509 crore.
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