Bay Capital Investments sells 11 lakh Westlife shares

Bay Capital Investments Ltd on Friday offloaded nearly 11 lakh shares of Westlife Development in a transaction worth over Rs 40 crore.

According to information available with the stock exchanges, Bay Capital Investments sold 10,90,750 shares in Westlife Development through open market route.

The stocks were sold at an average price of Rs 370, valuing the transaction at 40.35 crore, data showed.

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

Westlife Development's direct subsidiary Hardcastle Restaurants is the master franchisee for West and South India operations of McDonald's Restaurants.

At the end of September quarter, Bay Capital Investments Ltd held 1.19 crore shares, amounting to 7.68 per cent stake, in Westlife Development.

Shares in Westlife Development, ended at Rs 370 apiece on the BSE, down 0.94 per cent from the previous close.