Sapphire Foods India IPO subscribed 6.62 times, check allotment, listing date | Companies News

New Delhi: The initial public offer of Sapphire Foods India Limited, which operates KFC and Pizza Hut outlets, was subscribed 6.62 times on the last day of subscription on Thursday.

The Rs 2,073-crore IPO received bids for 6,39,45,000 shares against 96,63,468 shares on offer, according to BSE data.

The portion for Qualified Institutional Buyers (QIBs) was subscribed 7.50 times, while those for Retail Individual Investors (RIIs) 8.70 times and non institutional investors 3.46 times.

The company’s initial public offer (IPO) was of up to 1.75 crore (1,75,69,941) equity shares and it fixed the price band at Rs 1,120-1,180 per share. Sapphire Foods India Ltd on Monday raised Rs 933 crore from anchor investors.

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.

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.

JM Financial, BofA Securities India, ICICI Securities and IIFL Securities were the managers to the offer. Also Read: Gold Price Today: Gold jumps Rs 883 to nine-month high, check latest rate

The equity shares of the company are expected to be listed on BSE and NSE on November 22 while allotment will begin from November 16. Also Read: Nitin Gadkari suggests how taxes on petrol, diesel prices can come down further, check his idea

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