The preliminary public provide (IPO) of Sapphire Meals India oversubscribed 6.62 occasions on the ultimate day of bidding until 5:00 pm. The three-day IPO has begun on November 9 and concluded on November 11, 2021.
The Rs 2,073-crore IPO acquired bids for six,39,45,000 shares towards 96,63,468 shares on provide, based on the information obtainable on BSE. The worth band set for IPO is Rs 1120-1180 per share.
The retail traders queued most to subscribe for the IPO by 8.7 occasions, adopted by certified institutional consumers by 7.5 occasions and non-institutional traders quota was subscribed 3.46 occasions on the final day of the preliminary share-sale.
The meals chain firm had mobilised Rs 933 crore from anchor traders on November 10. Sapphire Meals is an omnichannel restaurant operator, with largest franchisee of Yum Manufacturers within the Indian sub-continent.
The meals chain firm is backed by marquee traders similar to Samara Capital, Goldman Sachs, CX Companions and Edelweiss.
3.50 pm: The IPO was subscribed 6.52 occasions, whereas retail portion was booked 8.51 occasions. Certified Institutional Consumers (QIBs) made bids for 7.50 occasions and NonInstitutional Traders 3.23 occasions to date on the final day of the opening of the problem.
2:45 pm: Sapphire Meals India Restricted IPO General bidding stood at 4.82 occasions, retail portion was booked 7.89 occasions, whereas Certified Institutional Consumers(QIBs) subscribed the problem 5.39 occasions
12: 30 pm: Whole subscription t 1.91 occasions, retail portion 6.73 occasions and QiBs subscribe the problem 0.98 occasions to date.
Sapphire Meals India IPO was subscribed 118%, whereas the retail traders made bids practically six occasions round 10.50 am on Thursday, the final day to subscribe the IPO. Towards complete variety of 96,63,468 shares on provide, the bids had been made for 1,14,32,652 share or 1.18 occasions on Thursday.
Retail Particular person Traders (RIIs) booked the problem 5.94 occasions with bidding for 1,04,44,596 shares as towards their quota of 17,56,994 shares.
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Non-Institutional Traders subscribed the problem, 0.32 occasions and Certified Institutional Consumers (QIBs) 0.03 occasions
The three-day preliminary public provide (IPO) of KFC, Pizza Hut operator’s Sapphire Meals India Restricted opened for public subscription on November 9, 2021, closed on November 11, 2021. The corporate has mounted value band of Rs 1,120-1,180 per fairness share for this provide. The preliminary public providing is anticipated to boost Rs 2,073 crore.
The IPO might be solely a proposal on the market (OFS) of 1,75,69,941 fairness shares by promoters and current shareholders. As part of the OFS, QSR Administration Belief will promote 8.50 lakh shares, Sapphire Meals Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will provide 39.62 lakh shares. As well as, AAJV Funding Belief will promote 80,169 shares, Edelweiss Crossover Alternatives Fund will offload 16.15 lakh shares and Edelweiss Crossover Alternatives Fund-Sequence II will divest 6.46 lakh shares.
The corporate had mentioned that as much as 75 per cent of the shares has been reserved for certified institutional consumers (QIBs), 15 per cent for non-institutional consumers and the remaining 10 per cent for retail traders.
Earlier, Zee Enterprise Managing Editor Anil Singhvi had really useful to use for this difficulty with long-term imaginative and prescient.
“The corporate has sturdy manufacturers like KFC and Pizza Hut underneath its belt. In addition to, spectacular observe document, sturdy progress potential, worthwhile at operational stage and cheap valuations would work for this IPO, mentioned Anil Singhvi,” he had mentioned whereas recommending the problem
Sapphire Meals, an omni-channel restaurant operator and the biggest franchisee of Yum Manufacturers within the Indian sub-continent, is backed by marquee traders similar to Samara Capital, Goldman Sachs, CX Companions and Edelweiss.