March 20, 2023

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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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