Sapphire Foods, the operator of KFC and Pizza Hut in the country, has filed Preliminary Documents (DRHP) with SEBI for its IPO. However, the entire IPO offer is for sale. Under this, the existing promoters and stakeholders of the company will sell 17,569,941 crore equity shares. QSR Management Trust will sell 8.50 lakh shares under the offer for sale. On the other hand, Sapphire Foods Mauritius Ltd will sell 55.69 lakh shares. WWD Ruby Ltd will sell 48.46 lakh shares. Apart from this, another stakeholder company Amethyst will sell its 39.62 lakh shares.
Yum Brands Largest Franchise Company in the Indian Sub Continent
Apart from this, AAJV Investment Trust 80,169, Edelweiss Crossover Opportunities Fund 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will also sell 6.46 lakh shares. Sapphire Foods is an omni-channel restaurant operator as well as the largest franchise company of Yum Brands in the Indian sub-continent. Samara Capital, Goldman Sachs, CX Partners and Edelweiss have invested in this. As of March 31, 2021, Sapphire Foods had 204 KFC restaurants in India and Maldives. It had 231 Pizza Huts in India, Sri Lanka and Maldives. It has two Taco Bell restaurants in Sri Lanka.
1150 crore raised from several investors
On Monday, Sapphire Foods announced that it has raised Rs 1,150 in a primary and secondary round of investments from private equity funds led by Creador, New Quest, Capital Partners and TR Capital. JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers of this IPO. Earlier, the share allotment of 1838 crore IPO of Devyani International, operator of KFC and Pizza Hut restaurant, has almost been completed. This IPO of Devyani International, the largest franchise company of KFC, Pizza Hut and Costa coffee in India, was subscribed 116.71 times more.