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Sapphire Foods India Ltd is a Quick Service Restaurant that is planning to raise about ₹2073.25 crore through an initial public offering (IPO). The IPO comprises of only offer for sale (OFS) by selling shareholders. The price band for the IPO has been fixed between ₹1120 and ₹1180 per equity share. The subscription for the IPO will open on November 9, 2021 and close on November 11, 2021. The shares of the company is expected to be listed on the exchanges on November 22, 2021.
Company Summary
Sapphire Foods India is one of YUM’s franchisee operators in the Indian subcontinent with revenue from operations of ₹1340.41 crore in FY20 and ₹1019.62 crore in FY21. The company is also Sri Lanka’s largest international Quick Service Restaurant (QSR) chain, in terms of revenue for the financial year 2021. They operate QSR chains under brands such as KFC, Taco Bell and Pizza Hut. As of June 30, 2021, Sapphire owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.
Company Strength
- Sapphire is one of the leading QSR brands with a substantial market presence.
- Strong relationship with YUM.
- The company has proven track record of operational excellence.
- It has a business model that makes it easy for them to scale their business and expand to more geographies.
- Continuous focus on delivering a great customer experience.
- Experienced management team which is backed by institutional capital.
Company Promoters
QSR Management Trust and Sapphire Foods Mauritius Limited are the promoters of the company. Both the promoters are selling their stake through an offer for sale.
Company Financial
Particulars | For the year/period ended (₹ in crore) | |||
30-Jun-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
Total Assets | 1371.08 | 1348.94 | 1380.66 | 1567.47 |
Total Revenue | 313.93 | 1081.24 | 1351.74 | 1206.28 |
Profit After Tax | (26.40) | (99.90) | (159.25) | (69.40) |
Purpose of the IPO
The objectives of an initial public offering are as follows,
- To sell 17,569,941 equity shares through an offer for sale by the selling shareholders.
- To strengthen the company’s brand image among existing and potential customers.
- To achieve the benefits of listing the equity shares on the stock exchanges and creation of a public market.
IPO Details
IPO Opening Date | November 9, 2021 |
IPO Closing Date | November 11, 2021 |
Issue Type | Book Built Issue IPO |
Face Value | ₹10 per equity share |
IPO Price | ₹1120 to ₹1180 per equity share |
Market Lot | 12 Shares |
Minimum Order Quantity | 12 Shares |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount (Cut-off) |
Minimum | 1 | 12 | ₹14,160 |
Maximum | 14 | 168 | ₹198,240 |