Lighthouse Advisors India sells 1.3% stake in Bikaji Foods for Rs 156 crore

Mumbai-based Lighthouse Advisors India on Tuesday divested a 1.3 per cent stake in Bikaji Foods International for nearly Rs 156 crore through an open market transaction. Lighthouse Advisors through its investment vehicle Lighthouse India Fund III sold the shares of Bikaner-based Bikaji Foods.

According to the bulk deal data available with the BSE, Lighthouse India Fund III offloaded 32,42,070 shares, or a 1.3 percent stake, in Bikaji. The shares were disposed of at an average price of Rs 480 apiece, taking the aggregate transaction value to Rs 155.62 crore.

After the transaction, Lighthouse India Fund III's shareholding has declined to 1.4 percent from 2.7 percent, shareholding data with the BSE showed. Meanwhile, Plutus Wealth Management LLP acquired 13.5 lakh shares of Bikaji Foods International, while details of other buyers could not be identified.

Shares of Bikaji Foods International jumped 6.12 percent to close at Rs 511.70 apiece on the BSE. In a separate bulk deal on BSE, Investcorp Private Equity Fund II sold shares of Safari Industries (India) for nearly Rs 81 crore through an open market transaction.