Sapphire Foods India Limited IPO
Sapphire Foods was set up in 2015, by the acquisition of about 250 KFC and Pizza Hut restaurants in India and Sri Lanka, by a group of leading Private Equity firms and is managed by a team of professionals.
Sapphire Foods is one of the largest YUM’s franchisee operators in the subcontinent, with a track record of operating more than 400 KFC, Pizza Hut and Taco Bell restaurants in India, Sri Lanka and the Maldives. As of June 30, 2021, Sapphire Foods owned and operated 209 KFC stores in India and the Maldives, 239 Pizza Hut stores in India, Sri Lanka and the Maldives, and 2 Taco Bell stores in Sri Lanka.
The company have an in-house supply chain function and work with vendor partners for food ingredients, packaging, warehousing and logistics. The company operate warehouses across five cities in India to service their restaurants in India and have invested in building technology solutions. Between March 31, 2019, to June 30, 2021, their total number of restaurants in India grew from 376 restaurants to 450 restaurants. The company has also adopted YUM’s global online and digital channel solutions to enhance the customer experience and achieve operating efficiency and financial controls.
Qualitative factors
- One of the leading QSR brands with a substantial market presence and scale.
- A strong relationship with the YUM brand.
- Continuous focus on delivering excellent customer experience.
- Operational excellence.
- Scalable new restaurant economic model for expansion.
- Great place to work, led by a professional management team and backed by institutional capital.
Objects of the Offer
- to carry out the Offer for Sale (OFS) of up to 17,569,941 equity shares by the selling shareholders.
- to get the benefits of listing the equity shares on the stock exchanges.
- enhancement of the company’s brand name amongst its existing and potential customers.
Financials of Sapphire Foods
| Parameter (₹ in million) | FY21 | FY20 | FY19 |
| Total Assets | 13,489.37 | 13,806.64 | 15,674.72 |
| Total Revenue | 10,812.35 | 13,517.36 | 12,062.82 |
| Loss for the year | (998.97) | (1,592.47) | (694.04) |
Sapphire Foods IPO Issue Details
| Issue Open | 09 Nov 2021- 11 Nov 2021 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 17,569,941 equity shares of ₹ 10 (aggregating up to ₹ 2,073.25 Cr) |
| Offer for Sale | 17,569,941 equity shares of ₹ 10 (aggregating up to ₹ 2,073.25 Cr) |
| Face Value | ₹ 10 per equity share |
| Issue Price | ₹ 1120 to ₹ 1180 per equity share |
| Market Lot | 12 shares |
| Min Order Quantity | 12 shares |
| Listing At | BSE, NSE |
| Allotment Date | 16 Nov 2021 |
| Listing Date | 22 Nov 2021 |
Sapphire Foods IPO Bid Details
| Sl No. | Category | Subscription Status (No. of times) | ||
| 09 Nov 21 | 10 Nov 21 | 11 Nov 21 | ||
| 1. | QIB | 0.02 | 0.03 | 7.50 |
| 2. | NII | 0.05 | 0.29 | 3.46 |
| 3. | RII | 2.56 | 5.38 | 8.70 |
| Total | 0.49 | 1.07 | 6.62 | |
| Book Running Lead Managers |
| 1. JM Financial Limited |
| 2. BofA Securities India Limited |
| 3. ICICI Securities Limited |
| 4. IIFL Securities Limited |
| Registrar to the Offer |
| Link Intime India Private Limited |
| C 101, 247 Park, L. B. S. Marg Vikhroli (West) Mumbai 400 083 Tel: +91 22 4918 6200 E-mail: sapphire.ipo@linkintime.co.in Investor grievance e-mail: sapphire.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Registered and Corporate Office: 702, Prism Tower, A Wing, Mindspace, Link Road, Goregaon (West), Mumbai, 400 062, Maharashtra, India.
Also Read:Source: Sapphire Foods India Limited RHP