Sapphire Foods IPO was subscribed 49 percent on first day of issueSapphire Foods, the franchise owner of KFC and Pizza Hut dining establishments in India, clocked 49 per cent subscription for its initial public deal (IPO), on the very first day of issue.Investors quote for 47.11 lakh equity shares against an offer size of 96.63 lakh.
The problem closes on November 11.
Retail financiers have actually put in quotes for 2.56 times of shares scheduled for them.The parts for non-institutional financiers booked just 5 percent, while certified institutional purchasers' (QIBs) part have actually put in bids for 2 percent shares of their reserved portion.The company prepares to raise Rs 2,073 crore through the public problem, while it has actually already mopped up Rs 933 crore from anchor financiers on November 8, 2021.
The offer size was lowered to 96.63 lakh equity shares, from 1.75 crore shares after fundraising through anchor book.The IPO is totally an offer-for-sale by promoters and financiers, so the business will not receive funds from the IPO.The price band for the deal has actually been fixed at Rs 1,120-1,180 per equity share.