Sapphire Foods India Ltd, one of the major Pizza Hut and KFC store operators in India, has submitted its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO. This comes after Devyani International, another KFC and Pizza Hut operator, floated its IPO last week on 4 August.
Sapphire Foods India Ltd. is one of the leading franchisees of Yum! Brands in the Indian subcontinent. The company has the expertise of operating and managing over 400 KFC, Pizza Hut and Taco Bell outlets throughout India, Sri Lanka, and the Maldives.
Incorporated in 2015, Sapphire Foods was formed by acquiring more than 250 Pizza Hut and KFC stores in India and Sri Lanka.
As of March 2021, the brand manages:
This restaurant operator comes with a long list of marquee investors such as:
As per the DRHP, Sapphire Foods IPO will entirely be an offer for sale of shares by existing shareholders and promoters. The OFS will consist of a total of 1,75,69,941 shares.
Here is a list of Sapphire Foods Ltd shareholders and promoters who will be divesting their shares through the IPO:
Ahead of its IPO, Sapphire Foods has managed to raise Rs. 1,150 crores from various private equity funds in two rounds. The list of private equity funds included TR Capital, NewQuest Capital Partners and Creador.
Investors should have a basic idea about the financial performance of any firm before investing in it. Sapphire Foods Ltd. has registered a revenue of Rs. 1,019.62 crores in 2021 as opposed to Rs. 1,340.41 crores last year.
The net loss of the company stood at Rs. 99.89 crores for the same period against Rs. 159.25 crores in the previous year.
The company feels that KFC and Pizza Hut will be growing rapidly due to the expanding middle-class consumer base in the subcontinent. Moreover, there has been a massive increase in take-away and delivery services owing to pandemic-related restrictions. This has made the company focus on building smaller formats for newer outlets.
The company hasn’t yet released any details regarding its public offering. Investors interested in subscribing to this IPO can stay updated with more information available on Angel One blogs.
This IPO will be listed on both NSE and BSE.
BofA Securities India, IIFL Securities, ICICI Securities, JM Financial are the book running lead managers of this IPO.
The dates for the Sapphire Foods IPO are yet to be disclosed.
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