The Initial public offering (IPO) of Sapphire Foods India, which operates KFC and Pizza Hut outlets, has opened for subscription on Tuesday, November 9, 2021, at a charge band of Rs 1,120-1,180 in step with proportion. The provider can be held until Thursday, November 11, 2021.
Sapphire Foods, an omnichannel eating place operator and the biggest franchisee of Yum Brands within the Indian subcontinent is subsidized with the aid of marquee traders inclusive of Samara Capital, Goldman Sachs, CX Partners and Edelweiss.
Through the provider, Sapphire Foods India ambitions to raise Rs 2,073 crore. The IPO is completely a suggestion of sale (OFS) of 17,569,941 fairness stocks via the means of promoters and present shareholders. The organization will now no longer acquire any proceeds from the provider.
As part of the OFS, QSR Management Trust will promote 8.50 lakh stocks, Sapphire Foods Mauritius will offload 55.69 lakh stocks, WWD Ruby will divest 48.46 lakh stocks and Amethyst will provide 39.62 lakh stocks. In addition, AAJV Investment Trust will promote 80,169 stocks, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh stocks and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh stocks.
According to the information of the IPO, as much as 75% consistent with cents of the stocks has been reserved for certified institutional shoppers (QIBs), 15 according to the cent for non-institutional shoppers and the ultimate 10 consistent for retail buyers. Currently, as of March 31, 2021, Sapphire Foods India owned and operated 204 KFC eating places in India and the Maldives, 231 Pizza Hut eating places in India, Sri Lanka and the Maldives, and Taco Bell eating places in Sri Lanka.
Investors who want to join the Sapphire Foods IPO can bid in plenty of 12 fairness stocks and multiples thereafter. At the top charge band, they may be doling out Rs 14,16p to get a lot of Sapphire Foods India. The stocks may be indexed on each BSE in addition to the National Stock Exchange (NSE).
The candidates additionally should word that the cut-off time for UPI mandate affirmation is Friday, November 12, 2021, upto 12:00 pm. If they fail to accomplish that then their utility might not be considered. JM Financial, BofA Securities India, ICICI Securities and IIFL Securities are the e-book strolling lead managers to the IPO at the same time as Link Intime India is the registrar of the issue.
Before heading into the IPO, Sapphire Foods raised almost Rs 933 crore (Rs 9,32,96,38,140.00) from 53 anchor traders in lieu of 79,06,473 fairness stocks at Rs 1,180 each, statistics from the inventory exchanges showed.
The anchor traders consist of the likes of the Government of Singapore, Monetary Authority of Singapore, Fidelity Funds, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, ICICI Prudential Life Insurance Company, Bajaj Allianz Life Insurance Company and Sundaram Mutual Fund (MF) among others.
The proportion allotment is probably to take vicinity on Tuesday, November 16, 2021, and the stocks are anticipated to be indexed on Monday, November 22, 2021, consistent with the timeline given within the purple herring prospectus (RHP).
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