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Sunday, November 28, 2021

Sapphire Foods India makes a firm debut, lists at over 14% premium above issue price

Sapphire Foods India shares listing: The scrip of Sapphire Foods India, which operates KFC and Pizza Hut outlets, got listed at Rs 1,350.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 14.41 per cent from its offer price of Rs 1,180.00.

By: Express Web Desk | New Delhi |
Updated: November 18, 2021 12:20:45 pm
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 India share price: Shares of Sapphire Foods India, which operates KFC and Pizza Hut outlets, made a firm debut and got listed at a premium of 14 per cent above their issue price in the stock exchanges today.

The scrip got listed at Rs 1,350.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 14.41 per cent from its offer price of Rs 1,180.00, while on the BSE, it opened at Rs 1,311.00, up 11.10 per cent from the issue price.

The stock inched higher from its opening levels touching a high of Rs 1,383.60 on BSE and Rs 1,380.05 on the NSE.

At 11:31 am, the scrip was trading at Rs 1,256.00 on the BSE, up 6.44 per cent from the issue price while on NSE it was at Rs 1,257.50. The market capitalisation was at Rs 7,980.94 crore, data from the BSE showed.

Over 62.26 lakh shares of Sapphire Foods were traded so far in the intraday trade on NSE while over 4.22 lakh shares exchanged hands on the BSE, data from the respective stock exchange showed.

The Rs 2,073 crore Sapphire Foods 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. It was subscribed 6.62 times during its offer period from November 9-11, 2021.

Sapphire 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.

As of March 31, 2021, Sapphire Foods 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.

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