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Home›Pizza hut›KFC and Pizza Hut Operator Sapphire Foods Set IPO Price Range Rs 1,120-1,180 / share – Jammu Kashmir Latest News | Tourism

KFC and Pizza Hut Operator Sapphire Foods Set IPO Price Range Rs 1,120-1,180 / share – Jammu Kashmir Latest News | Tourism

By Emily Wheatley
November 2, 2021
27
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New Delhi, November 2: Sapphire Foods India, which operates KFC and Pizza Hut outlets, announced on Tuesday that it has set a price range of Rs 1,120 to Rs 1,180 per share for its initial public offering (IPO) of 2,073 crores of Rs.
The initial stock sale will open on November 9 and end on November 11. The tender for lead investors will open on November 8, the company said.
The initial public offering will be entirely an offer to sell (OFS) of 1,75 69,941 shares by the promoters and existing shareholders.
As part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will discharge 55.69 lakh shares, WWD Ruby Ltd will sell 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.
In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will discharge 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will sell 6.46 lakh shares.
At the high end of the price range, the initial public offering is expected to reach Rs 2,073 crore.
The company said up to 75 percent of the shares are reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional buyers and the remaining 10 percent for retail investors.
Sapphire Foods, an omnichannel catering operator and Yum Brands’ largest franchisee in the Indian subcontinent, is backed by renowned investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss.
As of March 31, 2021, Sapphire Foods owned and operated 204 KFC restaurants in India and the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.
JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers of the company’s public offering. The company’s shares will be listed on BSE and NSE.
Devyani International, which is the other franchisee of Yum! Brands in India, operates 297 Pizza Hut stores and 264 KFC stores. It launched its IPO for Rs 1,838 crore in August. (PTI)


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