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On September 15, significant developments unfolded at Restaurant Brands Asia, formerly known as Burger King India, with eight investors collectively acquiring nearly 24 percent of the company’s equity stake. This surge in activity followed the promoter, QSR Asia, offloading over 25 percent of its shareholding through open market transactions. As a result, the stock price surged by 6.7 percent, closing at Rs 128.35 on the NSE.
Tata Mutual Fund, Plutus Wealth Management LLP, TD Emerging Markets Fund, Amal N Parikh, Quant Mutual Fund, ICICI Prudential Life Insurance Company, Goldman Sachs Funds-Goldman Sachs Asia Equity Portfolio, and Franklin Singapore 3 Banken Asia Stock-Mix emerged as key players, collectively purchasing 23.92 percent of the stake, equivalent to 11.83 crore equity shares in the quick-service restaurant chain. The shares were acquired at a price of Rs 119.1 per share, totaling Rs 1,349 crore.
Interestingly, the seller in this transaction was the promoter entity, QSR Asia Pte Ltd, which divested 12.54 crore shares, constituting 25.36 percent of the paid-up equity, at the same average price. As of June 2023, the promoter held a 40.8 percent stake in the company.
In addition to Restaurant Brands Asia, Five-Star Business Finance also garnered attention, experiencing a 1.8 percent decline, closing at Rs 687.55. SCHF PV Mauritius, a foreign entity, sold 30.19 lakh shares, equivalent to a 1.03 percent stake, in the non-banking finance company at an average price of Rs 700.15 per share, totaling Rs 211.35 crore. As of June 2023, it held 1.2 percent of the company’s shares.
In a notable move, foreign portfolio investor Smallcap World Fund Inc emerged as the buyer for the entire stake of Five-Star shares in this deal, in addition to its existing holding of 1.64 percent, equivalent to 47.78 lakh shares as of June 2023.
Meanwhile, the globally registered investment adviser Vanguard Group made strategic investments in six stocks on this day: Data Patterns India, Himadri Speciality Chemicals, MTAR Technologies, Nazara Technologies, Olectra Greentech, and Ramkrishna Forgings. Vanguard invested a total of Rs 706.34 crore across these stocks.
Vanguard Emerging Markets Stock Index Fund A Series of VIEIF acquired 3.12 lakh shares, while Vanguard Total International Stock Index Fund acquired 3.25 lakh shares in Data Patterns India, a defense and aerospace electronics solutions provider, at an average price of Rs 2,075.54 per share. Both funds also collectively purchased 4.29 lakh shares in precision engineering company MTAR Technologies at an average price of Rs 2,608.06 per share.
Notably, certain stocks experienced fluctuations in response to these developments. Data Patterns witnessed a 1.23 percent correction, closing at Rs 2,072.75, while MTAR fell by 2.58 percent, closing at Rs 2,602.45.
Vanguard Emerging Markets Stock Index Fund A Series of VIEIF and Vanguard Total International Stock Index Fund collectively acquired 51.8 lakh shares in chemicals company Himadri Speciality Chemicals at an average price of Rs 241.82 per share. These funds also acquired 7.44 lakh shares in Nazara Technologies, a gaming and sports media platform, at an average price of Rs 838.16 per share, and 10.51 lakh shares in composite polymer insulators and electrical buses maker Olectra Greentech at Rs 1,253.81 per share. Additionally, they acquired more than 20.62 lakh shares of Ramkrishna Forgings at an average price of Rs 691.78 per share.
While Himadri Speciality Chemicals shares declined by 0.88 percent, closing at Rs 241.7, and Ramkrishna Forgings slipped by 3.4 percent, closing at Rs 689.4, Nazara Technologies gained 1.01 percent, closing at Rs 836.8, and Olectra Greentech surged by nearly 5 percent, closing at Rs 1,254.55.
Moreover, Paris-based private investment firm BNP Paribas Arbitrage was the seller of nine stocks: Himadri Speciality Chemicals, Nazara Technologies, Olectra Greentech, Ramkrishna Forgings, Apar Industries, Kirloskar Oil Engines, NMDC Steel, Safari Industries (India), and Titagarh Rail Systems. BNP Paribas Arbitrage offloaded shares worth Rs 743.4 crore in these companies.
In a separate development, Dr. Cyrus Poonawalla’s Serum Institute of India sold 4 lakh shares in the pharmaceutical company Panacea Biotec at an average price of Rs 140.65 per share. However, the stock ended with a 4 percent gain, closing at Rs 145.90. In the current quarter, Serum had previously sold 5 lakh shares in the company, while holding 6.97 percent, equivalent to 42.7 lakh shares, as of June 2023.
EVLI Emerging Frontier Fund, an open-ended fund incorporated in Finland, acquired 5.14 lakh shares, representing a 0.51 percent stake, in the microfinance company Satin Creditcare Network at an average price of Rs 237.45 per share. As a result, the stock surged by 13 percent, closing at Rs 241.2 on the NSE.
Investor GG Engineering initiated a series of share sales in GI Engineering Solutions, offloading 15.3 lakh shares on the preceding Friday at an average price of Rs 12.21 per share. Over the past month, the investor has sold 1.57 crore shares, equivalent to an 18.31 percent stake, in the company, while holding 24.47 percent as of June 2023.
Additionally, Aditya Vision, in which the renowned investor Ashish Kacholia held a 2 percent stake as of June 2023, witnessed a 5.7 percent decline, closing at Rs 2,231.1. During this period, promoters divested a 5.39 percent shareholding in the electronic retail chain. Sunita Sinha offloaded 5 lakh shares at an average price of Rs 2,203.02 per share, while Nishant Prabhakar sold 1.48 lakh shares at an average price of Rs 2,200.85 per share. However, HDFC Mutual Fund emerged as the buyer for a portion of these shares, acquiring 5 lakh shares at an average price of Rs 2,199.74 per share.
