Not received Sapphire Foods IPO refund? Here are the things you should know about

• The IPO was open for subscription from November 9 to November 11.
• The company announced the allotment of IPOs yesterday, November 16.
• Initiation of refund procedure or unblock of amount in a bank account will begin from today, November 17.

If you had applied for the initial public offering (IPO) from Sapphire Foods India, the operator of KFC and Pizza Hut outlets in India, Sri Lanka and Maldives, the allotment started on November 16. The refund will begin today.

Shares of Sapphire Foods are available at a premium of ₹80 in the grey market indicating a positive listing for the stock. The company received huge demand from investors, who had oversubscribed the IPO by 6.62 times. Overall, the IPO has received bids for 6.39 crore equity shares against the IPO size of 96.63 lakh equity shares.

If you have not checked whether you received the IPO allotment or not, click here and follow the procedure.

For those who checked and have not been allotted the shares of the mutual fund company — the initiation of refund procedure will begin from today, November 17.

Once the IPO result is released, all the applicants who got allotment will receive the share in their demat account on the date of listing. And the rest, who unfortunately didn’t get the allotment will receive their IPO refund on/before the end date of mandate.

Usually, with the registered phone number on the investment platform, every applicant gets a message when shares are blocked and unblocked in their bank account. This indicates if one has received the IPO allotment or not.

Most of you would have received a request for UPI ID while completing IPO transaction. After the submission, investors will receive a validity period. The IPO amount which is blocked in an investor account usually gets unblocked one day later the IPO allotment or before the end of the validity period.

Here is the screenshot of an IPO mandate after the transaction is made through the UPI ID that has the validity period of the IPO.

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