KFC, Pizza Hut Franchisees, And Sapphire Foods Submit IPO Documents.
Sapphire Foods’ IPO will be a general offering for existing shareholders including QSR Management Trust and Sapphire Foods Mauritius to sell 1.75,69,941 shares.
Sapphire Foods has submitted a draft prospectus for Red Herring to SEBI to initiate its primary market offering (IPO). A few days ago, the fast food chain KFC, Pizza Hut and another franchisee of Costa Coffee, Devyani International, raised 1,838 crore through a primary market offering. Sapphire Foods’ stock is likely to be listed on BSE and NSE.
On Monday, Sapphire Foods raised 11.5 billion rupees from private equity investors, ie. Creator, NewQuest Capital Partners and TR Capital.
Sapphire Foods are backed by major investors Samara Capital, Goldman Sachs, CX Partners, Creator and Edelweiss. It operates 437 KFC, Pizza Hut and Taco Bell restaurants in India, Sri Lanka and the Maldives.
At the same time, Devyani International’s IPO was 1,838 crore, including newly issued 4.4 crore and 1,398 crore sale offers from existing investors, which were subscribed 116.71 times. And the stock is likely to be listed on August 4.
JM Financial, BofA Securities India, ICICI Securities and IIFL Securities are the main managers of Sapphire Foods’ IPO.
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