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Sapphire Foods IPO opens for subscription; here's all you need to know

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The IPO of Sapphire Foods - an operator of KFC and Pizza Hut chains - is entirely an offer for sale (OFS). Shares will be available for bidding in a price band of Rs 1,120-1,180 in multiples of 12.

Sapphire Foods IPO opens for subscription; here's all you need to know
Sapphire Foods India, which operates KFC and Pizza Hut outlets in the country, has launched an initial public offering (IPO) worth Rs 2,073 crore Tuesday. The IPO of Sapphire Foods is entirely an offer of sale (OFS) of 1.8 crore equity shares by promoters and existing shareholders.
Here's all you need to know about the Sapphire Foods IPO:
Issue price
Shares will be available for bidding between November 9 and November 11 in a price band of Rs 1,120-1,180.
Lot size
Potential investors will be able to bid for Sapphire Foods shares in multiples of 12 under the initial share sale. At the upper end of the price band, one lot of the shares of the KFC chain operator will cost Rs 14,160.
Objective
The company aims to use the proceeds from the IPO to create a public market for its shares and avail the benefits of listing, and promote its brand.
Listing
Sapphire Foods shares will be listed on stock exchanges BSE and NSE.
OFS
According to Sapphire Foods' draft red herring prospectus, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius 55.69 lakh shares, WWD Ruby 48.46 lakh shares and Amethyst 39.62 lakh shares.
Anchor investors
On Monday, Sapphire Foods said it had raised Rs 933 crore by allocating 79.1 lakh equity shares to 53 anchor investors at Rs 1,180 apiece. The investors include the Government of Singapore, the Monetary Authority of Singapore, Fidelity Funds, Abu Dhabi Investment Authority (ADIA), Morgan Stanley Asia (Singapore), ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance and Sundaram Mutual Fund.
Company profile
Sapphire Foods, an omnichannel restaurant operator and the largest franchisee of Yum Brands in the Indian sub-continent is backed by marquee 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.
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