Goldman Sachs, HSBC, several other big boys pick up stake in Sapphire Foods

Investment funds like Goldman Sachs, HSBC Global Investment Funds, ICICI Prudential Mutual Fund, Mirae Asset Mutual Fund and the Government of Singapore have bought stakes in FMCG company via a block deal.

Goldman Sachs (Singapore) bought 74,240 shares of Sapphire Foods on Thursday at Rs 1,347 per share and made an investment of Rs 10 crore in the company.

ICICI Prudential Mutual Fund bought 8,90,869 shares of Sapphire Foods in two separate block deals at Rs 1,347 per share. The mutual fund made an investment of Rs 120 crore. Similarly, Life Insurance purchased 185,599 shares at Rs 25 crore.

The Government of Singapore purchased 358,704 shares of the FMCG firm with over Rs 48- crore investment. Similarly, HSBC Global Investment funds – Asia Ex Japan Equity Smaller Companies– bought 74,240 shares at Rs 10 crore.

Besides, some more domestic institutional investors like Mirae Asset Mutual Fund, ITI Mutual Fund, Fidelity Funds India, Kotak India Mid Cap Fund, PI Opportunities Fund, Bajaj Allianz Life Insurance Company, etc. have also bought fresh stakes in the FMCG firm.

The stock was trading 1% lower at Rs 1,385 in Friday’s trade. On a year-to-date basis, it has surged nearly 15%, while rising nearly 43% in the last six months.