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KFC, Pizza Hut Operator Sapphire Foods Opens IPO; Price, Size, Should You Invest

Sapphire Foods, the company which runs popular fast food chains KFC, Pizza Hut and Taco Bell in India, Sri Lanka and Maldives, is set to open its maiden Initial Public Offer (IPO) on Tuesday, November 9. As of now, experts are all positive about the issue, mainly due to the substantial market presence, reasonable values as compared to the operator’s peers as well as its improving performance in operation. The company aims to raise Rs 2,073 crore through the offer and already raised Rs 933 crore from anchoring investors a day before opening the issue. On this note, let us take a look at the deets of the Sapphire Foods IPO.

1) Sapphire Foods IPO Dates

The sapphire Foods IPO will be open from November 9 to November 11, that is from Tuesday to Thursday. The issue will close after that.

2) Sapphire Foods IPO Price Band

The operator has fixed the price band for the initial public offer (IPO) at Rs 1,120 to Rs 1,180 per equity share.

3) Sapphire Foods IPO Offer Details

Sapphire foods is planning to mobilise Rs 2,073 crore though its IPO that opens Tuesday. The issue is an entirely offer-for-sale one by promoters QSR Management Trust and Sapphire Foods Mauritius. The investors in the OFS include WWD Ruby, Amethyst, AAJV Investment Trust and Edelweiss Crossover Opportunities Fund. The company will issue an OFS 17,569,941 shares though the Initial Public Offer. The offer will constitute 27.7 per cent of the post-offer paid up equity share capital of the company, said ICICI Securities in a note.

The Government of Singapore, Fidelity Funds, Abu Dhabi Investment Authority, Ashoka India Opportunities Fund, Sundaram Mutual Funds, ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance Company and HDFC Mutual Funds were among the 53 anchor investors who participated in the issue.

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