Business

KFC, Pizza Hut Franchisee Operator Sapphire Foods Files primary market offering (IPO) Documents

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Sapphire Foods is backed by marquee financiers, viz.

Samara Capital, Goldman Sachs and CX PartnersSapphire Foods has filed its draft red herring prospectus with SEBI to release its main market offering (IPO).

This comes days after Devyani International, another franchisee operator of the KFC, Pizza Hut and Costa Coffee quick service dining establishments chain, raised Rs 1,838 crore through a main market offering.

Sapphire Foods shares arelikely to be listed on the BSE and NSE.Sapphire Foods IPO will be a total sell of 1,75,69,941 shares by existing shareholders, including QSR Management Trust (QMT), Sapphire Foods Mauritius, Edelweiss Crossover Opportunities Fund and Edelweiss Crossover Opportunities Fund - Series II.On Monday, Sapphire Foods raised Rs 1,150 crore from private equity investors viz.

Creador, NewQuest Capital Partners and TR Capital.Sapphire Foods is backed by marquee financiers, Samara Capital, Goldman Sachs, CX Partners, Creador and Edelweiss.

It operates 437 restaurants under the KFC, Pizza Hut and Taco Bell brands in India, Sri Lanka and Maldives.Meanwhile, Devyani International's Rs 1,838 crore IPO, which made up a fresh concern of Rs 440 crore and a sell of Rs 1,398 crore by existing investors, was subscribed 116.71 times.

And the shares are likely to be listed on the bourses on August 4.

JM Financial, BofA Securities India, ICICI Securities and IIFL Securities are the book running lead supervisors for Sapphire Foods IPO.




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