Dunearn Investments Mauritius Pte has divested a 2.85 per cent stake in Devyani International for Rs 499 crore through an open market transaction. Dunearn Investments is a wholly-owned subsidiary of Singapore’s sovereign wealth fund Temasek Holdings. According to the bulk deal data available with the National Stock Exchange, Dunearn Investments sold 3,44,30,150 shares. The shares were offloaded at an average price of Rs 145.04 apiece.
Post the latest transaction, Dunearn’s shareholding has reduced to 3.03 per cent from 5.88 per cent (as of December quarter) in Devyani International.
Devyani International is the largest franchisee of Yum Brands in India and is among the largest chain operators of quick service restaurants (QSR) in India on a non-exclusive basis.
