New Delhi, Aug 26 (PTI) An entity on Friday sold over 30 lakh shares of machine components company Rolex Rings Ltd for Rs 580 crore through an open market transaction.

The shares were picked up by a clutch of domestic mutual funds (MFs) and an insurance company.

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The entities that purchased the stake were PGIM India MF, Kotak MF, ICICI Prudential MF, DSP MF, Canara Robecco MF, Aditya Birla Sun Life MF and ICICI Prudential Life Insurance Company Ltd.

According to bulk deal data available with the National Stock Exchange (NSE), Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC) sold 34,14,423 shares of the company.

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The shares were offloaded at an average price of Rs 1,700.13 apiece, taking the transaction size to Rs 580.49 crore.

As of the June quarter, Rivendell PE LLC held 12.54 per cent stake in the company, shareholding pattern showed with the exchange.

Shares of Rolex Rings closed 1.03 per cent higher at Rs 1,786.50 on NSE.

In another transaction, Edelweiss Finance and Investments Ltd sold 3.43 lakh shares of restaurant operator Sapphire Foods Ltd for nearly Rs 42 crore through an open market transaction.

Sapphire Foods Ltd is an omnichannel restaurant operator and one of the largest franchisees of Yum! Brands in the subcontinent.

Edelweiss offloaded 3,43,250 shares of Sapphire Foods at an average price of Rs 1,220.22 apiece, aggregating to Rs 41.88 crore, as per data available with NSE.

However, buyer(s) of the shares could not be ascertained.

Shares of Sapphire Foods closed 3.20 per cent higher at Rs 1,259.55 on NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)