Arisaig India Fund today bought more than 9 lakh Westlife Development shares for an estimated Rs 31.7 crore through an open market transaction.
The fund acquired 9,21,849 shares of Westlife Development for Rs 344.08 each, according to bulk deal information with the stock exchanges. The value of the transaction was Rs 31.7 crore.
Last week, US-based Vontobel Fund had bought a 6.26 per cent stake in Westlife Development for about Rs 321 crore through the open market.
Westlife Development's subsidiary Hardcastle Restaurants is the franchisee for operations of McDonald's restaurants in west and south India.
Westlife Development shares rose 1.99 per cent to close at Rs 350.95 on the BSE.