KFC, Pizza Hut operator Sapphire Foods file IPO documents with SEBI
Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, has filed a draft letter with capital markets regulator SEBI to raise funds through initial public offering (IPO). As per the draft Red Herring Prospectus (DRHP), the initial share-sale will be an offer for sale (OFS) of 17,569,941 equity shares by the entire promoters and existing shareholders.
As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will sell 55.69 lakh shares, WWD Ruby Ltd will sell 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.
In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will sell 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will sell 6.46 lakh shares.
Sapphire Foods, an omni-channel restaurant operator and Yum Brands’ largest franchisee in the Indian sub-continent, is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss.
As of March 31, 2021, Sapphire Foods owned and operated 204 KFC restaurants in India and Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and Maldives, and two Taco Bell restaurants in Sri Lanka.
Devyani International, the second franchise of Yum! The brand operates 297 Pizza Hut stores and 264 KFC stores in India. It launched its Rs 1,838 crore IPO last week.
On Monday, Sapphire Foods announced that it has raised Rs 1,150 crore through a mix of primary and secondary round from private equity funds led by Creador, NewQuest Capital Partners and TR Capital.
JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers of the company’s public issues. The equity shares of the company will be listed on BSE and NSE.
Read also: Devyani International IPO Allotment Date Today: Check GMP, Listing Date, Status
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