scorecardresearch
Follow Us:
Sunday, November 28, 2021

Sapphire Foods IPO opens today: Here’s everything you need to know

Sapphire Foods IPO, Sapphire Foods IPO Price Band Details: The Rs 2,073 crore initial public offering (IPO) of Sapphire Foods India, which operates KFC and Pizza Hut outlets, will be available from November 9-11, 2021. It has a price band of Rs 1,120-1,180 per share.

By: Express Web Desk | New Delhi |
Updated: November 9, 2021 11:50:41 am
Sapphire Foods IPOSapphire Foods, an omni-channel restaurant operator and the largest franchisee of Yum Brands in the Indian sub-continent, is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss. (Representative image, express photo by Oinam Anand)

Sapphire Foods IPO: The initial public offering (IPO) of Sapphire Foods India, which operates KFC and Pizza Hut outlets, has opened for subscription on Tuesday, November 9, 2021, at a price band of Rs 1,120-1,180 per share. The offer will be available till Thursday, November 11, 2021.

Sapphire Foods, an omnichannel restaurant operator and the largest franchisee of Yum Brands in the Indian sub-continent is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss.

Through the offer, Sapphire Foods India aims to raise Rs 2,073 crore. The IPO is entirely an offer of sale (OFS) of 17,569,941 equity shares by promoters and existing shareholders. The company will not receive any proceeds from the offer.

As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius will offload 55.69 lakh shares, WWD Ruby will divest 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.

In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.

According to the details of the IPO, up to 75 per cent of the shares has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional buyers and the remaining 10 per cent for retail investors.

Currently, as of March 31, 2021, Sapphire Foods India owned and operated 204 KFC restaurants in India and the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.

Investors who wish to subscribe to the Sapphire Foods IPO can bid in a lot of 12 equity shares and multiples thereafter. At the upper price band, they will be shelling out Rs 14,160 to get a single lot of Sapphire Foods India. The shares will be listed on both BSE as well as the National Stock Exchange (NSE).

The applicants also must note that the cut-off time for UPI mandate confirmation is Friday, November 12, 2021, upto 12:00 pm. If they fail to do so then their application may not be considered.

JM Financial, BofA Securities India, ICICI Securities and IIFL Securities are the book running lead managers to the IPO while Link Intime India is the registrar of the issue.

Before heading into the IPO, Sapphire Foods raised nearly Rs 933 crore (Rs 9,32,96,38,140.00) from 53 anchor investors in lieu of 79,06,473 equity shares at Rs 1,180 each, data from the stock exchanges showed.

The anchor investors include the likes of the Government of Singapore, Monetary Authority of Singapore, Fidelity Funds, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company and Sundaram Mutual Fund (MF) among others.

The share allotment is likely to take place on Tuesday, November 16, 2021, and the shares are expected to be listed on Monday, November 22, 2021, according to the timeline given in the red herring prospectus (RHP).

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement