Sapphire Foods Stake Worth Rs 394 Crore Sold By Mauritius-Based Firm

A Mauritius-based firm sold stake worth Rs 394 crore in Sapphire Foods India Ltd. through open market transactions on Wednesday, according to NSE data. The buyer was Kotak Mahindra Bank Ltd.

Arinjaya (Mauritius) Ltd. divested 23.9 lakh shares at Rs 1,649.94 apiece.
The firm sold 3.74% stake in Sapphire Foods.

As of June, Arinjaya (Mauritius) held 3.75% stake in Sapphire Foods as one of the promoters, with ownership of 23.9 lakh equity shares.

Kotak Mahindra Mutual Fund bought 5.99 lakh shares, representing 0.93% stake at Rs 1,650 apiece. The stake purchase amounted to Rs 98 crore, according to NSE data.

Other buyers could not be ascertained.

Shares of Sapphire Foods closed 1.65% lower at Rs 1,656.25 apiece, as compared with a 1.27% advance in the NSE Nifty 50.