KFC Sapphire Foods IPO fully subscribed on day 2: Check GMP, listing date and key details

The Initial public offering (IPO) of Sapphire Foods India Limited, which operates Piza Hut and KFC outlets in the country, was fully-subscribed on Wednesday on day two of bidding. The KFC Sapphire Foods IPO was subscribed 1.07 times, which translates to 1,03,68,948 equity shares against 96,63,468 shares on offer, according to the NSE data.

The portion reserved for Retail Individual Investors was subscribed 5.38 times, qualified institutional buyers (QIBs) by 3% and non-institutional investors (NIIs) portion by 29%. The price band for the Rs 2,073-crore IPO has been fixed at Rs 1,120-1,180. On Monday, Sapphire Foods India Ltd raised Rs 933 crore from anchor investors. 

KFC Sapphire Foods India Limited IPO: All you need to know

• KFC Sapphire Foods IPO day 2 subscription: 1.07 times the issue size
• Bids for 1,03,68,948 equity shares received against 96,63,468 shares on offer
• Retail portion subscribed 5.38 times
• QIBs bid for just 3%
• NIIs portion booked 29%
• KFC Sapphire Foods IPO share allotment: November 16
• Refund initiation: November 17
• KFC Sapphire Foods IPO listing: November 19

Sapphire Foods IPO GMP

According to reports, the grey market premium or GMP of the KFC operator was Rs over Rs 1,300 on Monday. This indicates that the issue will see a strong listing on the Indian bourses later this month.

About Sapphire Foods India Ltd

According to March 31, 2021 data, the company owns and operates 204 KFC (Kentucky Fried Chicken) restaurants in India and the neighbouring Maldives. It operated 231 Pizza Hut outlets in India, the Maldives and Sri Lanka and two Taco Bell in Sri Lanka.

"Sapphire Foods was set up in September 2015, by the acquisition of about 250 KFC and Pizza Hut Stores in India and Sri Lanka, by a group of leading Private Equity firms and is managed by a team of professionals," according to the company website.

The omnichannel restaurant operation, Sapphire Foods, which is also the largest franchisee of Yum Brands in the Indian sub-continent, is backed by investors such as Goldman Sachs, CX Partners, Edelweiss and Samara Capital.

BofA Securities India, JM Financial, IIFL Securities and ICICI Securities are the managers of the offer. The shares of the firm will be listed on both NSE and BSE. 

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