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The ₹2,073-crore IPO of Sapphire Foods India Ltd closed on a strong note, with the issue subscribing 5.75 times on the last day. The issue received bids for 5.77 crore shares against 96.63 lakh shares on offer.
Retail investors have shown immense interest in the public issue of operator of KFC and Pizza Hut outlets on Thursday, as the quota reserved for them was subscribed 8.43 times. Portions reserved for Qualified institutional Buyer and non-institutional investors were subscribed by 6.95 times and 2.49 times, respectively.
Sapphire Foods came out with a price band of ₹1,120-1,180 a share for the issue.
100% offer for sale
The initial public offering (IPO) will be entirely an offer of sale (OFS) of 1.76 crore shares by promoters and existing shareholders. QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 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 offload 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.
Sapphire Foods India has raised ₹933 crore from anchor investors ahead of its IPO roll-out on Tuesday.
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