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 and later settled 4 per cent higher.
The stock made its debut at Rs 1,311, registering a jump of 11.10 per cent from the issue price on BSE. During the day, it surged 17.25 per cent to Rs 1,383.60. It jumped 3.05 per cent to settle at Rs 1,216.05.
On NSE, it listed at Rs 1,350, a gain of 14.40 per cent. The stock gained 4 per cent to settle at Rs 1,227.70.
In volume terms, 5.31 lakh shares were traded on BSE and over 85.96 lakh on NSE. 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.
(With 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.)