Sapphire Foods IPO share allotment: The shares of Sapphire Foods India, the company that runs KFC and Pizza Hut, have been allotted. The company may be listed in the stock market next week. This IPO of Rs 2073 crore got a great response from investors. All categories of investors oversubscribed their share of the issue, due to which it got 6.62 times subscription on the last day. Those who could not get the shares, their money will come back today. Sapphire Foods is an omni-channel restaurant operator as well as the largest franchise company of Yum Brands in the Indian sub-continent. It runs restaurants of brands like KFC, Pizza Hut and Taco Bell in the country.
Shares of Sapphire Foods India were trading at a premium of Rs 85 per share to the IPO price of Rs 1,180 in the primary market. The premium in gray market was less than last week’s Rs 120. The net sales of Sapphire Foods fell from Rs 1,193 crore in the financial year 2018-19 to Rs 1,019 crore in the previous financial year. The company has reported losses in the last three years with an EBITDA margin of 12.2%.
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Experts opinion
Analysts have mixed reactions to this issue. Analysts at Choice Broking advise investors to exercise caution. The brokerage firm said that at the higher price band, the issue price is at a P/S of 7.4x, which is a discount to peers like Devyani International at a P/S of 14.8x and a peer average P/S of 12.8x. “While the valuations look fair compared to Pierce’s, we remain concerned about the company’s continuing loss-making outlook in the coming fiscal,” he added. At the same time, Marwari Financial Services has given it a ‘Subscribe’ rating citing adequate market presence as well as fair valuation.
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How to check allotment status through Link Intime India
- Investors can check the IPO status section of the Link Intime India website at https://linkintime.co.in/MIPO/Ipoallotment.html after the allotment is finalised.
- After reaching this page, select ‘Sapphire Foods IPO’, whose allotment status is to be checked.
- After this, application number or DP ID / Client ID or PAN, one of these three options will have to be selected, through whose details the allotment is to be checked.
- If Application Number is selected then choose Application Type and enter Application Number. If DP ID / Client ID is selected then select Depository and enter DPIP, Client ID. If PAN is selected then fill the PAN.
- Fill the captcha and submit.
- The information about the number of shares applied for and the number of shares allotted will be displayed on the screen.
Check allotment like this on BSE website
- Investors can check the allotment status on the Stock Exchange BSE website https://www.bseindia.com/investors/appli_check.aspx.
- Select Equity and select IPO from the drop down menu.
- Enter Application Number and PAN.
- Click on ‘I am not a Robot’.
- By clicking on the search tab, you can see the status details whether the share has been allotted to you or not.
(Article: Kshitij Bhargava)
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