Sapphire Foods India shares were trading at a 14% premium to issue price today. The largest Yum Brands franchisee in the Indian subcontinent made its market debut at Rs 1,350 per share on the NSE against the IPO issue price of Rs 1,180. The price band of the IPO was fixed at Rs 1,120 -- 1,180 per share.
The stock was listed at Rs 1,311 on the BSE and then rose 17 per cent to hit an intraday high of Rs 1,383. The firm's market cap rose to 8,305. There are 65 crore on the BSE.
The company raised 932.96 crore from 53 anchor investors on November 8. The investors who participated in the anchor book included the Government of Singapore, Monetary Authority of Singapore, Fidelity Funds, Abu Dhabi Investment Authority, Crestwood Capital Master Fund, Ontario Teachers' Pension Plan Board, Carmignac Portfolio, HSBC, Societe Generale, Morgan Stanley, Segantii India and Affin Hwang.
The IPO was a sale OFS of 1,75, 69,941 equity shares by promoters and existing shareholders. JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers of the company's public issue. The equity shares of the company will be listed on the BSE and NSE on November 22.
Sapphire Foods, an omni-channel restaurant operator and the largest franchisee of Yum Brands in the Indian subcontinent, 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 the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.