INSUBCONTINENT EXCLUSIVE:
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.
