KFC Sapphire Foods IPO subscribed 6.62 times: Check GMP, share allotment and listing date

The Sapphire Foods India IPO (Initial Public Offering), which operates Pizza Hut and KFC outlets in India, Sri Lanka and the Maldives, was subscribed 6.62 times on the final day of bidding. The KFC Sapphire Foods IPO received bids for 6,39,45,000 against 96,63,469 equity shares on offer, according to the NSE data. The portion set aside for Retail Individual Investors (RIIs) was subscribed 8.70 times. Qualified Institutional Buyers (QIBs) 7.50 times and non-institutional investors (NIIs) 3.46 times. The Rs 2.073 crore IPO's price band was fixed at Rs 1,120-1,180 per share.

On Monday, the omnichannel restaurant operator raised Rs 933 crore from anchor investors. The shares will be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). 

KFC Sapphire Foods India Ltd IPO final day status: All you need to know

• KFC Sapphire Foods IPO total subscription: 6.62 times
• Share allotment of KFC Sapphire Foods IPO: November 16
• Initiation of refunds: November 17
• Sapphire Foods IPO listing date: November 19
• Sapphire Foods IPO GMP: In the grey or unlisted market, KFC and Pizza Hut operator is trading at around Rs 1,280. The GMP suggests that IPO will open at a premium of Rs 80 on the listing. 

As per reports, the GMP or grey market premium of Sapphire Foods India operates more than 200 KFC restaurants in India and the Maldives. It also operates 231 Pizza Hut outlets in India, Sri Lanka and the Maldives. The omnichannel restaurant operator is backed by investors such as CX Partners, Samara Capital, Edelweiss and Goldman Sachs.

"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.

Image: Unsplash/PTI