Dunearn Investments Mauritius Pte on Tuesday divested a 2.8 per cent stake in restaurant operator Devyani International for Rs 499 crore through an open market transaction.
Dunearn Investments is a wholly-owned subsidiary of Singapore’s sovereign wealth fund Temasek Holdings while Devyani International is the largest franchisee of Yum Brands in India. According to the bulk deal data available with the National Stock Exchange (NSE), Dunearn Investments sold 3,44,30,150 shares, amounting to 2.85 per cent stake in the company.
The shares were offloaded at an average price of Rs 145.04 apiece, taking the transaction value at Rs 499.37 crore. Post the latest transaction, Dunearn’s shareholding have reduced to 3.03 per cent from 5.88 per cent (as of December quarter) in the firm.
Franklin Templeton Mutual Fund A/C – Franklin India Flexi Cap Fund bought 62 lakh shares of the company.On Tuesday, shares of Devyani International closed 1.88 per cent lower at Rs 140.70 per piece on the NSE