BREAKING NEWS

Advertisement

Business

Updated on: Thursday, November 18, 2021, 11:43 AM IST

Sapphire Foods shares debut over 14% higher; stock lists at Rs 1,350 vs IPO prices Rs 1,180

The stock made its debut at Rs 1,311, registering a jump of 11.10 per cent from the issue price on the BSE. It then surged 17.25 per cent to Rs 1,383.60 / Representational Image | Photo: Pixabay

The stock made its debut at Rs 1,311, registering a jump of 11.10 per cent from the issue price on the BSE. It then surged 17.25 per cent to Rs 1,383.60 / Representational Image | Photo: Pixabay

Advertisement

Shares of Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, on Thursday listed with a premium of over 14 per cent against its issue price of Rs 1,180.

The stock made its debut at Rs 1,311, registering a jump of 11.10 per cent from the issue price on the BSE. It then surged 17.25 per cent to Rs 1,383.60.

At the NSE, it listed at Rs 1,350, a gain of 14.40 per cent.

The initial public offer of Sapphire Foods India was subscribed 6.62 times on the last day of subscription on Thursday last week. The Rs 2,073-crore IPO had a price band of Rs 1,120-1,180 per share.

Sapphire Foods, an omnichannel restaurant operator and the largest franchisee of Yum Brands 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 the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.

(Witj inputs from PTI)

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Published on: Thursday, November 18, 2021, 11:43 AM IST
Advertisement