Sapphire Foods IPO To Open On November 9

Sapphire Foods India, the franchise holder of KFC and Pizza Hut restaurants in the country, will unveil its initial public offer (IPO) on Tuesday, November 9, 2021..The IPO of over 17.5 million shares is completely an offer for sale (OFS) by the promoters and investors of the company..In other words, the company will not get any money from the issue, as all the funds, apart from issue expenses, will go to shareholders who are selling their stakes..The offer will open on November 9 and close on November 11, 2021. It is valued at Rs 2,073 crore at an upper price band..The selling shareholders are promoters QSR Management Trust and Sapphire Foods Mauritius and investors WWD Ruby, Amethyst, AAJV Investment Trust, Edelweiss Crossover Opportunities Fund..Sapphire Foods India has fixed a price band of Rs 1,120-1,180 per share. Investors can bid for a minimum of 12 equity shares and in multiples of 12 shares thereafter..Retail investors can invest a minimum of Rs 14,160 and their maximum investment would be Rs 1,98,240 for 14 lots as they are allowed to invest up to Rs 2 lakh in the IPO..The company said that up to 75 per cent of the shares are reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional buyers and the remaining 10 per cent for retail investors..JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers to the public issue. The company's shares will be listed on the BSE and the National Stock Exchange.

Sapphire Foods IPO To Open On November 9

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