Sapphire Foods IPO: The IPO of Sapphire Foods, a company that runs restaurant brands like Pizza Hut, Taco Bell and KFC, is opening today i.e. on November 9. The issue of the company will close on November 11. The price band of Sapphire Foods is Rs 1,120-1,180.
This issue is purely an offer for sale (OFS). This means that the company will not issue any new equity shares under this IPO, but the existing shareholders of the company will sell their stake. Shareholders of Sapphire Foods are preparing to raise about Rs 2,073 crore through this IPO.
SoftBank Group told Paytm IPO a big event for itself, said – Paytm’s valuation will increase further
Sapphire Foods has been making losses for the past few years. However, analysts are bullish on this considering the future prospects. He suggests that investors should subscribe to the issue as it is available at a comparatively low valuation.
Brokerage firm Angel One (formerly Angel Broking) has advised to subscribe to the IPO and has given fair valuation of the company. The brokerage said, “In terms of valuation, FY21 EV/Sales post IPO listing will be around -7.4x (in terms of upper price band of IPO) as compared to its peer Devyani International (FY21 EV/Sales -16.3). x). Also Sapphire Foods India’s per store revenue is better than Devyani International. On EBITDA front also the company is showing consistent improvement.”
Sapphire Foods is Sri Lanka’s largest international QSR chain in terms of number of restaurants and revenue as of March 31, 2021. It has also established its presence in Maldives. As of June 30, 2021, the company operates or is owned by KFC’s 209 restaurants in India and Maldives, Pizza Hut’s 239 restaurants in India, Sri Lanka and Maldives and Taco Bell’s two restaurants in Sri Lanka. The company’s total number of restaurants in these regions has increased to 450 as of June 2021, from 376 as of March 31, 2019.
Nykaa IPO: Allotment of shares today, check whether you got shares or not, know what is going on GMP
Sapphire Foods India has fixed a price band of Rs 1,120-1,180 per share. Retail investors can bid in lot sizes of 12 shares. That is, to bid a lot, the retail investor will have to invest Rs 14,160. A maximum of 14 lots can be bid. The company said 75% of the shares are reserved for qualified institutional investors, 15% for non-institutional buyers and 10% for retail investors.
Facebook us for social media updates (https://www.facebook.com/moneycontrolhindi/) and Twitter (.) to follow.
.