Sapphire Foods IPO — Today is the last day to subscribe, grey market premium at ₹85

• Sapphire Foods India, the operator of KFC and Pizza Hut outlets, is looking to raise over ₹2,000 crore through the public listing.
• Analysts believe riding on strong brands, fine dine experience and focus on delivery strength the company is well positioned to capture the new age wave of change in eating habits.
• You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.

Today (November 11) is the last day to subscribe to the initial public offering (IPO) of Sapphire Foods India, the operator of KFC and Pizza Hut outlets.

So far, in the first two days of the IPO bidding process, it has already been subscribed over 1.07 times. Shares reserved for retail investors have been oversubscribed by 5.38 times on the second day of the IPO bidding process.

While the IPO has received decent response from investors, its share premium in the grey market slipped to ₹85 from ₹125 earlier.

You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.

The company is looking to raise over ₹2,000 crore through the IPO that consists of a pure offer for sale of 1.75 crore shares by existing shareholders and promoters. The company is the largest franchisee of Yum! Brands in the Indian subcontinent. Besides, the company is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss.

As of June 2021, the company owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.

Analysts believe the company is well positioned to capture the new age wave of change in eating habits.

“Riding on strong brands, fine dine experience and focus on delivery strength the company is well positioned to capture the new age wave of change in eating habits. The quick service restaurant (QSR) segment is expected to witness a significant rebound in the coming years driven by the economic recovery of the country and improvement in the purchasing power of consumers,” said brokerage firm KR choksey while recommending a ‘subscribe’ rating to the IPO.

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