INSUBCONTINENT EXCLUSIVE:
Sapphire Foods is the franchise holder of KFC and Pizza Hut restaurants in IndiaSapphire Foods India, the franchise holder of KFC and Pizza
Hut restaurants in the country, will unveil its initial public offer (IPO) on Tuesday, November 9, 2021.The IPO of over 17.5 million shares
is completely an offer for sale (OFS) by the promoters and investors of the company.In other words, the company will not get any money from
the issue, as all the funds, apart from issue expenses, will go to shareholders who are selling their stakes.The offer will open on November
9 and close on November 11, 2021
It is valued at Rs 2,073 crore at an upper price band.The selling shareholders are promoters QSR Management Trust and Sapphire Foods
Mauritius and investors WWD Ruby, Amethyst, AAJV Investment Trust, Edelweiss Crossover Opportunities Fund.Sapphire Foods India has fixed a
price band of Rs 1,120-1,180 per share
Investors can bid for a minimum of 12 equity shares and in multiples of 12 shares thereafter.Retail investors can invest a minimum
company said that up to 75 per cent of the shares are reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional
buyers and the remaining 10 per cent for retail investors.JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead
managers to the public issue
The company's shares will be listed on the BSE and the National Stock Exchange.
