Sapphire Foods IPO got fully subscribed on second day of issue

The initial public offer (IPO) of Sapphire Foods India Limited, the franchise holder of KFC and Pizza Hut outlets in India, was fully subscribed on the second day of subscription on Wednesday.

The Rs 2,073-crore IPO received bids for 1,03,68,948 shares against 96,63,468 shares on offer, translating into 1.07 times subscription, according to NSE data.

The category for Retail Individual Investors (RIIs) was subscribed 5.38 times, non-institutional investors’ portion by 29 per cent and qualified institutional buyers’ (QIBs) by 3 per cent.

The company’s IPO is of up to 1.75 crore (1,75,69,941) equity shares and the company has fixed the price band at Rs 1,120-1,180 per share.

Sapphire Foods on November 8 had raised Rs 933 crore from anchor investors.

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.