Yum Restaurants India Sells 4.4% Stake in Devyani International for Rs 871 Crore

In a significant transaction, Yum Restaurants India, the franchisee of renowned fast-food chains like KFC, Pizza Hut, and Taco Bell in India, has sold its entire 4.4 percent stake in Devyani International for a substantial sum of Rs 871 crore. The transaction was executed through an open market transaction, attracting a notable list of buyers.

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Prominent Buyers of Devyani International Shares

The buyers of Devyani International shares included several prominent entities, such as SBI Mutual Fund, Axis MF, Franklin Templeton MF, Nippon India MF, HDFC Standard Life Insurance, Ghisallo Master Fund LP, Singapore Government, Societe Generale, Goldman Sachs, and Morgan Stanley Asia Singapore. This diverse group of investors reflects the strong interest in Devyani International's growth potential.

Details of the Block Deal

According to the block deal data available on the National Stock Exchange (NSE), Yum Restaurants India offloaded 5,30,83,330 shares, representing its entire 4.4 percent stake in Devyani International. The shares were sold at an average price of Rs 164.10 apiece, resulting in a transaction value of Rs 871 crore.

Yum Restaurants' Previous Stake in Devyani International

At the end of December 2023, Yum Restaurants held over 5.30 crore shares, representing a 4.40 percent stake in Devyani International. The recent divestment marks a complete exit from the company's shareholding.

Stock Performance of Devyani International

On the day of the transaction, shares of Devyani International experienced a positive trend, gaining 1.24 percent to close at Rs 167.80 apiece on the NSE. This indicates investor confidence in the company's prospects.

QRG Investments and Holdings Sells Campus Activewear Shares

In a separate block deal on the NSE, QRG Investments and Holdings sold shares of Campus Activewear, a leading sportswear brand in India. The company offloaded 40.65 lakh shares at an average price of Rs 245 apiece, resulting in a deal value of Rs 99.59 crore, as per NSE data.

SBI Mutual Fund Acquires Campus Activewear Shares

Notably, SBI Mutual Fund emerged as the buyer of Campus Activewear shares in the same transaction. This acquisition highlights the fund's interest in the growing sportswear market in India.

Stock Performance of Campus Activewear

On the day of the transaction, shares of Campus Activewear witnessed an upward trend, surging 3.24 percent to settle at Rs 253 per piece on the NSE, reflecting positive market sentiment towards the company.

The divestment of Yum Restaurants India's stake in Devyani International and the subsequent trading activities involving Campus Activewear shares underscore the dynamic nature of India's capital markets. These transactions reflect the evolving investment landscape and the ongoing interest in various sectors, including food and beverage, and sportswear.