Through the sale, Yum Restaurants plans to raise around Rs 815 crore, reports said.
The floor price for the sale has been fixed at Rs 153.5 a share, which is at a discount of nearly 8% to the current price.
Shares of Devyani International ended 0.6% up at Rs 166.20 on the National Stock Exchange.
As of December-end, Yum Restaurants held over 5 crore shares in Devyani International. In September 2021, Yum Restaurants bought a 4.41% stake in Devyani International.
In the last one year, shares of Devyani International have gained over 7%. Devyani International, which operates KFC and Pizza Hut chains of restaurants in India, reported weak numbers for the December quarter, with consolidated profit plunging 87% to Rs 9.6 crore. The company’s revenue rose only 7% YoY to Rs 843 crore.
(You can now subscribe to our ETMarkets WhatsApp channel)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price