Edelweiss Crossover Fund is likely to be the seller in a block deal of Sapphire Foods, which is expected this week, sources told CNBC Awaaz on July 25.
The block deal, worth Rs 280 crore, is expected to be on the counter, the persons privy to the development told the news channel. A discount of two to three percent on the selling price is on the cards, they added.
Edelweiss will be the broker for the deal, the sources further said. Official confirmation was awaited at the time of writing this report.
Sapphire Foods Block deal AlertSources to @CNBC_Awaaz
Block deal likely in counter worth 280 cr this week
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Edelweiss Crossover Fund likely seller
Discount of 2-3% likely to closing price
Edelweiss Broker to deal
— Yatin Mota (@YatinMota) July 25, 2022
Sapphire Foods' shares closed at Rs 1,103.80 on the NSE on July 25, which was 0.55 percent lower than the previous close. On the BSE, however, the company's shares jumped by 0.97 percent to close at Rs 1,120.
The KFC operator had reported a net profit of Rs 26.51 crore in the quarter ended March 2022, which was double as compared to Rs. 13.84 crore clocked in the year-ago period.
The net sales in Q4 FY22 stood at Rs 496.83 crore, which was 45.86 percent higher as against Rs 340.62 crore in March 2021. The company's EBITDA jumped 69.9 percent on-year to Rs 109.57 crore in the March 2022 quarter.
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