KFC, Pizza Hut operator Sapphire Foods India IPO subscribed 6.62 times on the last day

The initial public offer of Sapphire Foods India Limited, the largest operator of KFC and Pizza Hut outlets, was subscribed 6.62 times on the last day of subscription on 11^th November.

The Rs 2,073-crore IPO received bids for 6,39,45,000 shares against 96,63,468 shares on offer, according to BSE data.

The portion for Qualified Institutional Buyers (QIBs) was subscribed 7.50 times, while those for Retail Individual Investors (RIIs) 8.70 times and non institutional investors 3.46 times.

Also Read: 6 things to know before you take a bite of Sapphire Foods IPO

The company's initial public offer (IPO) was of up to 1.75 crore (1,75,69,941) equity shares and it fixed the price band at Rs 1,120-1,180 per share. Sapphire Foods India Ltd on Monday raised Rs 933 crore from anchor investors.

An omni-channel restaurant operator and the largest franchisee of Yum Brands in the Indian sub-continent, Sapphire Foods 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.

JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers to the company's public issue. The equity shares of the company will be listed on BSE and NSE.