Sapphire Foods IPO: The Rs 2,073 crore IPO of Sapphire Foods India, which runs KFC and Pizza Hut, is going to open on Tuesday, November 9. The company has fixed a price band of Rs 1120-1180 per share for the shares having a face value of Rs 10. The lot size for the issue is 12 equity shares i.e. investors can invest a minimum of Rs 14,160 per lot as per the upper price band. The issue will remain open for three days and will close on November 11. No new shares will be issued under this IPO and it is purely Offer for Sale (OFS). Under the issue, the promoters and existing shareholders of the company will sell 1.75 crore equity shares.
Shares will be sold under OFS
QSR Management Trust will sell 8.50 lakh shares as a part of the OFS. Similarly, Sapphire Foods Mauritius Ltd will sell 55.69 lakh shares, WWD Ruby Ltd 48.46 lakh shares and Amethyst will sell 39.62 lakh shares. In addition, AAJV Investment Trust will sell 80,169 shares, while Edelweiss Crossover Opportunities Fund will sell 16.15 lakh shares. Along with this, Edelweiss Crossover Opportunities Fund-Series II will sell 6.46 lakh shares. 75% of the IPO is reserved for Qualified Institutional Investors (QIBs) and 15% for Non-Institutional Investors. Whereas the remaining 10 percent has been reserved for related investors.
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The company has said that investors will have to ensure that the bank account used for bidding is linked to their Permanent Account Number (PAN). JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the book running lead managers of the company’s public issues. The equity shares of the company will be listed on BSE and NSE. As of 30 June 2021, the company had 7,020 permanent employees and 36 consultants and contract employees, most of whom work under the finance function.
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Yum Brands largest franchise in the Indian subcontinent
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 it. As of March 31, 2021, it has 204 KFC restaurants in India and Maldives as per the available data. It has 231 Pizza Huts in India, Sri Lanka and Maldives. It has two Taco Bell restaurants in Sri Lanka. Before this, another big operator company of KFC and Pizza Hut in India, Devyani International has brought its IPO of Rs 1838 crore in August itself.
(Article : Surbhi Jain)
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