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KFC, Pizza Hut Operator Sapphire Foods Lists At 14% Premium

Sapphire Foods had raised Rs 933 crore from anchor buyers.

New Delhi: The shares of Sapphire Foods India, which operates KFC and Pizza Hut made a robust debut on the exchanges on Thursday. The inventory bought listed at Rs 1,350 on the National Stock Exchange (NSE), a premium of 14.41 per cent over its subject worth of Rs 1,180. On the BSE platform, the inventory began buying and selling at Rs 1,311.

However, the inventory gave up all of its beneficial properties and plunged into pink quickly after the optimistic opening.

The Rs 2,073-crore IPO had acquired bids for 1,03,68,948 shares in opposition to 96,63,468 shares on supply, translating into 1.07 instances subscription, in line with NSE knowledge.

The class for Retail Individual Investors (RIIs) was subscribed 5.38 instances, non-institutional buyers’ portion by 29 per cent and certified institutional consumers’ (QIBs) by three per cent.

The firm had raised Rs 933 crore from anchor buyers.

Sapphire Foods, the biggest franchisee of Yum Brands within the Indian sub-continent, is backed by marquee buyers equivalent to Samara Capital, Goldman Sachs, CX Partners and Edelweiss.

As of March 31, 2021, Sapphire Foods owned and operated 204 KFC eating places in India and the Maldives, 231 Pizza Hut eating places in India, Sri Lanka and the Maldives, and two Taco Bell eating places in Sri Lanka.

JM Financial, BofA Securities India, ICICI Securities and IIFL Securities acted as managers to the supply.

On the opposite hand, shares in Paytm plummeted 21 per cent of their market debut.

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