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

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

Sapphire Meals had raised Rs 933 crore from anchor traders.

New Delhi: The shares of Sapphire Meals India, which operates KFC and Pizza Hut made a robust debut on the exchanges on Thursday. The inventory acquired listed at Rs 1,350 on the Nationwide Inventory Alternate (NSE), a premium of 14.41 per cent over its problem value of Rs 1,180. On the BSE platform, the inventory began buying and selling at Rs 1,311.

Nonetheless, the inventory gave up all of its good points and plunged into pink quickly after the constructive opening.

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

The class for Retail Particular person Traders (RIIs) was subscribed 5.38 instances, non-institutional traders’ portion by 29 per cent and certified institutional consumers’ (QIBs) by 3 per cent.

The corporate had raised Rs 933 crore from anchor traders.

Sapphire Meals, the most important franchisee of Yum Manufacturers within the Indian sub-continent, is backed by marquee traders corresponding to Samara Capital, Goldman Sachs, CX Companions and Edelweiss.

As of March 31, 2021, Sapphire Meals 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 Monetary, BofA Securities India, ICICI Securities and IIFL Securities acted as managers to the provide.

Then again, shares in Paytm plummeted 21 per cent of their market debut.

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