If you are thinking of earning money by investing in IPO then you have a good chance. The IPO of Sapphire Foods is opening for investment from November 9. It will be open till November 11.
Sapphire Foods IPO: Sapphire Foods India, which operates KFC and Pizza Hut, has fixed the price band for its IPO. The price band for the IPO of Sapphire Foods will be Rs 1120-1180. The issue will open for subscription on November 9, while it will close on November 11. Shares of Sapphire Foods will be listed on the stock exchange on November 22. The company plans to raise Rs 2073 crore through IPO. Fresh equity shares will not be issued in this. There will be an offer for sale (OFS) only. If you are also thinking of investing money in this issue, then it is important to know its details first.
About the IPO
There will be an offer for sale (OFS) of 1.75 crore shares in the IPO of Sapphire Foods. Under OFS, promoters and existing investors will reduce their stake. In this offer for sale, 8.50 lakh shares will be sold by QSR Management Trust. Sapphire Foods Mauritius Ltd will sell 55.69 lakh shares, while WWD Ruby Ltd will sell 48.46 lakh shares. Amethyst Pvt. Ltd will sell 39.62 lakh shares.
Whereas in this offer for sale 80,169 shares will be sold by AAJV Investment Trust. 16.15 lakh shares will be sold by Edelweiss Crossover Opportunities Fund and 6.46 lakh shares by Edelweiss Crossover Opportunities Fund Series II.
how much reserve for whom
The IPO of Sapphire Foods will consist of one lot of 12 shares. In terms of upper price band, it will be necessary to invest at least Rs 14,160 in the issue. 75 per cent of the issue will be reserved for Qualified Institutional Investors (QIBs), 15 per cent for non-institutional buyers and 10 per cent for retail investors.
Sapphire Foods Mauritius holds 46.53 per cent stake in the company, QSR Management Trust holds 5.96 per cent, WWD Ruby holds 18.79 per cent, Amethyst Pvt. Ltd has 6.67 per cent stake, AAJV Investment Trust holds 0.14 per cent and Edelweiss Crossover Opportunities Fund has 6.83 per cent stake.
Sapphire Foods currently operates 437 restaurants in India, Sri Lanka and Maldives under the names of KFC, Pizza Hut and Taco Bell. JM Financial, BofA Securities, ICICI Securities and IIFL Securities will be the book running lead managers of the issue.