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Sapphire Foods India Ltd (SPIL) on Tuesday announced to increase its stake in GIFPL to 75 per cent from the current 51 per cent Gamma Island Food Private Ltd (GIFPL) operates Pizza Hut and KFC restaurants in Maldives under franchisee agreements. "The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL), wholly-owned subsidiary of SPIL, has considered and approved subscription of upto 81,914 Equity Shares of GIFPL, subsidiary of GPOPL and step-down subsidiary of the Company, for a total consideration of upto 1.88 crore Maldivian Rufiyaa (Rs 10.15 cr)," it said. SPIL further added, "Pursuant to this proposed acquisition, the equity shareholding of GPOPL in GIFPL will be increased from the existing 51% up to 75%." "The proposed acquisition is by way of subscription to the additional equity shares issued by GFIPL to GPOPL, in one or more tranches, pricing of which is based on a chartered accountant report," it said. SFIL is one of the largest franchisees of Yum! Brands In
Dunearn Investments (Mauritius) Pte Ltd, a subsidiary of Temasek Holdings, on Tuesday divested over a 2 per cent stake in restaurant operator Devyani International for Rs 482 crore through an open market transaction. Devyani International is an omnichannel restaurant and the largest franchisee of Yum Brands in India. According to bulk deal data available with BSE, Dunearn Investments (Mauritius) Pte Ltd offloaded 2,63,29,516 shares, amounting to a 2.18 per cent stake in the company. The shares were sold at an average price of Rs 183.11 apiece, taking the transaction value to Rs 482 crore. However, the buyer(s) of the shares could not be ascertained. Dunearn Investments, a public shareholder in Devyani International held an 8.13 per cent stake in the quick service restaurant operator at the end of the June quarter, shareholding data with the exchange showed. Shares of Devyani International closed 5.20 per cent down at Rs 185.85 on BSE.
At 09:15 am, around 28.95 million equity shares representing 2.4 per cent of the total equity of the company changed hands on the BSE, the exchange data shows.
Value players, or those catering to price sensitive customers, may see growth and profitability concerns, they said
'They should issue an apology saying that Kashmir is an integral part of India, only then we will forgive them,' Jvalit Mehta, North Gujarat convener of Bajrang Dal told ANI
On Wednesday, December 8, 2021, the brokerage firm Motilal Oswal Financial Services initiated coverage on Devyani with a Buy rating and target price of Rs 190.
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Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, on Monday said it has raised Rs 933 crore from anchor investors ahead of its IPO rollout on Tuesday. The company has decided to allocate a total of 79,06,473 equity shares to 53 anchor investors at Rs 1,180 apiece, aggregating the transaction size to Rs 932.96 crore, according to a circular uploaded on BSE website. Government of Singapore, Monetary Authority of Singapore, Fidelity Funds, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company and Sundaram Mutual Fund (MF) are among the anchor investors. The initial public offering (IPO) will be entirely an offer of sale (OFS) of 17,569,941 equity shares by promoters and existing shareholders. As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Ameth
The IPO will be entirely an offer for sale (OFS) of 1,75,69,941 equity shares by promoters and existing shareholders.
The initial public offering (IPO) will conclude on November 11
The stock listed at Rs 141, a 57 per cent per cent premium over the issue price of Rs 90 per share on the BSE and the NSE
On Monday, Sapphire Foods announced that it raised Rs 1,150 crore funds through a mix of primary and secondary rounds from private equity funds
Ravi Kant Jaipuria-promoted Devyani International prices its IPO between Rs 86-90
US-based quick service restaurant chain Yum Brands Inc on Thursday reported an over two-fold jump in system sales of KFC and Pizza Hut in the Indian market.
US-based fast food chain KFC will continue to expand its restaurant network in India despite the coronavirus pandemic bringing structural changes in the business, believing the country to be a growth market in the coming years, according to a top company official. KFC India, which opened around 30 new restaurants last year during the peak of the COVID-19-induced disruptions, is looking at adding new outlets this year too as it looks to enhance access of the brand to its consumers. "Our intent is definitely to keep growing the brand. One of our biggest strategic pillars is what we call as access. We have to ensure that access to the brand continues to grow for the consumers, both physical and digital," KFC India Managing Director Samir Menon told PTI. Despite the COVID-19 disruptions, he said, "We actually have more restaurants now than we had in pre-COVID. During the course of the year, our franchisees have opened new restaurants. So we actually are a bigger business now than we wer
Stock at Rs 138 verus issue price of Rs 60, was locked in upper circuit for some part of the day, with only buyers and no sellers
Proceeds will be used to roll out new outlets, retire debt; Issuer to have market cap of Rs 2,290 cr at upper end of price band
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The case pertains to the agreement between the Yum Restaurants (Asia), the assessee and its Indian counterpart, where Vinod Mehboobani was deputed to India as the vice president (VP).