Sapphire Foods, the company which runs popular fast food chains KFC, Pizza Hut and Taco Bell in India, Sri Lanka and Maldives, has closed its initial public offer or IPO recently amid muted response from investors. On the final day of bidding, the Sapphire Foods public offer was subscribed only 6.62 times, which is lesser than how IPOs have been performing recently. The Rs 2,073-crore IPO received bids for 6,39,45,000 shares against 96,63,468 shares on offer, according to the data available on the Bombay Stock Exchange (BSE). The IPO will be listed on Bombay Stock Exchange and National Stock Exchange, most likely on November 19, which is next week.
The portion reserved for them has been booked 8.7 times. Qualified institutional investors have, so far, bid for only 7.5 times over their quota of shares. The non-institutional investors bought 3.46 times the shares of their portion. Sapphire Foods IPO was booked 1.07 times on the second day of subscription, largely by the support of the retail investors.
Sapphire Foods IPO Details, Price
Sapphire foods is planning to mobilise Rs 2,073 crore though its IPO that opened Tuesday. The operator has fixed the price band for the initial public offer (IPO) at Rs 1,120 to Rs 1,180 per equity share. The company raised Rs 933 crore from the anchor investors, at the upper price band.
According to reports, QSR Management Trust sold 8.50 lakh shares, while Sapphire Foods Mauritius sold 55.69 lakh shares. On the other hand, WWD Ruby put up 48.46 lakh shares and Amethyst 39.62 lakh shares.
“The IPO is valued at 60.2x FY21 EV/EBITDA and 7.3x FY21 EV/sales, which
looks to be at a modest discount compared to the recently-listed Devyani
International, which appears reasonable due to the better margins profile of
Devyani. Fast food culture under QSR is expected to flourish in India due to an
increase in the working class population and continued urbanization,” Reliance Securities noted while giving it a ‘Subscribe’ rating.
Sapphire Foods IPO GMP Today
Sapphire Foods unlisted shares has been trading at Rs 1,240 in the grey market, according to IPO watch. Hence, Sapphire Foods IPO grey market premium was Rs 60 on Friday, November 11.
How to Check Sapphire Foods IPO
To check Sapphire Foods IPO allotment status, investors can opt for one of the two ways — a) via BSE b) via registrar’s website. After the finalisation, ineligible investors will get their refunds by November 20, while the equity shares will be credited to the demat accounts of eligible investors on the next day, November 21.
How to Check Sapphire Foods IPO Allotment Status via BSE
a) Go to the official website of BSE or Bombay Stock Exchange. The link is (https://www.bseindia.com/investors/appli_check.aspx)
b) It will take you to a page called ‘Status of Issue Application’
c) After you land on the page, click on the ‘Equity’ option
d) From the drop down menu that will be displayed beside the issue name, select the option ‘Sapphire Foods India Limited’
e) Write your application number on the page
f) After that, write you Permanent Account Number or PAN
g) Click on the Captcha that says ‘I am not a Robot’ and click on submit
How to Check Sapphire Foods IPO Allotment Status via the Registrar’s Website (Link Intime India Services Pvt Ltd)
a)Go to the Link Intime India Pvt Ltd website via the URL (https://www.linkintime.co.in/MIPO/Ipoallotment.html)
b) From here, you will have to select one of the three available servers
c) Select the name of the IPO via the dropdown menu. The name will only be populated when the share allotment process is finalised
d) You need to select enter your Permanent Account Number
e) Click on the search option
f) Your allotment status will be visible after this
Read all the Latest Business News here
Comments
0 comment