The three-day initial public offering (IPO) of Sapphire Foods India Limited, which runs KFC and Pizza Hut outlets in the country, will open for subscription on Tuesday, November 9, and close on November 11. On Monday, Sapphire Foods said it had raised ₹933 crore from anchor investors ahead of the rollout of its IPO.
Here’s all you need to know:
(1.) The offer is valued at ₹2073 crore at the upper price band. For each share, the company has fixed a price band of ₹1120-1180.
(2.) Under the IPO, which will entirely be an offer for sale (OFS), promoters and existing shareholders will sell 17,569,941 equity shares.
(3.) Sapphire Foods Mauritius Limited, WWD Ruby Limited, Amethyst, QSR Management Trust, Edelweiss Crossover Opportunities Fund, Edelweiss Crossover Opportunities Fund-Series II and AAJV Investment Trust will sell their respective shares under the offering.
(4.) Government of Singapore, Monetary Authority of Singapore, Abu Dhabi Investment Authority, Fidelity Funds, Morgan Stanley Asia (Singapore), ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance and Sundaram Mutual Fund are the lead investors of the IPO.
(5.) Sapphire Foods has reserved 75 per cent of the share for quality institutional buyers (QIB), 15 per cent for non-institutional buyers, and the remaining 10 per cent for retail investors.
(6.) The company, backed by marquee investors such as Samara Capitals, Goldman Sachs, CX Partners and Edelweiss, is the largest franchisee in the sub-continent of American fast food corporation Yum Brands.
(7.) The opening of its public offering comes a day after India’s biggest IPO, by digital payments company Paytm, opened for subscription. Last week, five other companies successfully concluded their respective IPOs.
(With PTI inputs)
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