According to market sources, the IPO is expected to fetch Rs 1,500-2,000 crore.
The initial share sale of Sapphire Foods India Limited, which operates KFC and Pizza Hut outlets, will open for public subscription on November 9.
According to the Red Herring Prospectus (RHP), the three-day initial public offering (IPO) will end on November 11.
The initial share-sale will be an Offer for Sale (OFS) of 17,569,941 equity shares by the entire promoters and existing shareholders.
As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will sell 55.69 lakh shares, WWD Ruby Ltd will sell 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.
In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will sell 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will sell 6.46 lakh shares.
According to market sources, the IPO is expected to fetch Rs 1,500-2,000 crore.
Sapphire Foods, an omni-channel restaurant operator and Yum Brands’ largest franchisee in the Indian sub-continent, is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss.
As of March 31, 2021, Sapphire Foods owned and operated 204 KFC restaurants in India and Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and Maldives, and two Taco Bell restaurants in Sri Lanka.
JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers of the company’s public issues. The equity shares of the company will be listed on BSE and NSE.
Devyani International, the second franchise of Yum! The brand operates 297 Pizza Hut stores and 264 KFC stores in India. It launched its ₹1,838 crore IPO in August.
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