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U.S.-based Yum Eating places India Pvt. plans to divest its complete 4.4% stake in fast service restaurant operator Devyani Worldwide Ltd. by means of open market transactions.
The agency is providing to promote 5.3 crore shares at Rs 153.50 apiece within the secondary market, as per the time period sheet accessed by Bloomberg. That values the deal at Rs 814.8 crore.
The ground worth is at a 7.6% low cost to Devyani Worldwide’s closing worth on Tuesday.
Devyani is the most important franchisee for Yum! Manufacturers, which operates KFC, Pizza Hut and Taco Bell in India and is the only real franchisee for Costa Espresso.
The corporate’s web revenue declined for the third quarter of fiscal 2024 by 92.8% to Rs 5.07 crore, whereas income elevated by 6.6% year-on-year.
Shares of the QSR operator closed 0.36% increased at Rs 165.85 apiece on Tuesday, as in contrast with a 0.48% advance within the BSE Sensex.
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