InvestorQ : Can you give me a quick update on the Sapphire Foods IPO that is opening on 09-November?
indhumathi Sayani made post

Can you give me a quick update on the Sapphire Foods IPO that is opening on 09-November?

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3 weeks ago
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The IPO of Sapphire Foods India opens on 09th November and closes for subscription on 11th November. Like Devyani International, Sapphire Foods is also a franchisee of YUM Brands. However, in terms of revenues in the Indian sub-continent comprising of India SRI Lanka and Maldives, Sapphire Foods is the largest. Sapphire Foods operates across the region through its 450 outlets of KFC, Pizza Hut and Taco Bell.

The total IPO size is Rs.2,073 crore and the entire issue amount will be an offer for sale to give exit to early investors. Apart from the promoter group, other selling shareholders include WWD Ruby, Amethyst and Edelweiss Fund. The price band for the IPO has been set at Rs.1,120 to Rs.1,180 with minimum lot size of 12 shares. Retail has 10% reservation. On 08-Nov, Sapphire did an anchor placement of Rs.932 crore to QIBs.

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