Five Entities Offload 11% Stake in Hindustan Foods for Rs 638 Crore

On Wednesday, five entities sold an 11 per cent stake in Hindustan Foods for Rs 638 crore through open market transactions. Jwalamukhi Investment Holdings, Infinity Consumer Holdings, WestBridge AIF I, Sixth Sense India Opportunities II, and Konark Trust offloaded shares via block deals on the National Stock Exchange (NSE).

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Jwalamukhi Investment Holdings sold 62.81 lakh shares of Hindustan Foods. Infinity Consumer Holdings offloaded 31 lakh scrips, while WestBridge AIF I disposed of 23.98 lakh shares. Sixth Sense India Opportunities II sold 7 lakh shares, and Konark Trust sold 2.36 lakh scrips.

Stake Sale Details

The shares were sold at an average price of Rs 502 each, making the total deal worth Rs 638.40 crore. After this sale, WestBridge AIF I exited the firm by selling its entire 2.09 per cent stake in the FMCG company.

HSBC Mutual Fund, Nippon India MF, Aditya Birla Sun Life Insurance Company, ICICI Prudential Life Insurance, Clarius Capital I, Samsung India, Tara Emerging Asia Liquid Fund, and Morgan Stanley Asia Singapore were among the buyers of Hindustan Foods shares.

Impact on Share Prices

Shares of Hindustan Foods surged by 5.54 per cent to close at Rs 534.90 apiece on the NSE following these transactions.

In a separate transaction on the NSE, Affle Holdings Pte, a promoter of Affle India, divested a 1.8 per cent stake in the IT company for Rs 322 crore through an open market transaction.

Affle India Stake Sale

Affle Holdings sold 25 lakh shares at an average price of Rs 1,290 each, taking the deal value to Rs 322.50 crore. Following this transaction, the combined stake of promoter and promoter group entities in Affle India decreased to 55.12 per cent from 56.92 per cent.

The Monetary Authority of Singapore and ICICI Prudential MF acquired a total of 23.92 lakh shares of Affle India at the same price. This brought the deal value to Rs 308.57 crore.

Details of other buyers of Affle India shares were not available.

The scrip of Affle India rose by 5.73 per cent to settle at Rs 1,364 apiece on the NSE after these transactions.