IPO Wrap: Sapphire Foods IPO subscribed 6.62 occasions on closing day led by retail traders and QIBs

Sapphire Foods IPO subscription standing: The preliminary public providing (IPO) of Sapphire Foods India, which operates KFC and Pizza Hut shops, which was launched earlier this week bought subscribed 6.62 occasions on the ultimate day, based on the info obtainable on the BSE.
The Rs 2,073 crore acquired bids for over 6.39 crore (6,39,45,000) shares in opposition to the entire problem dimension of over 96.63 lakh (96,63,468) shares, the info confirmed.
The shares that are to be allotted for the certified institutional patrons (QIBs) was subscribed 7.50 occasions, whereas these of non institutional traders was subscribed 3.46 occasions and that of retail particular person traders (RIIs) was subscribed 8.70 occasions, the info confirmed.
Sapphire Foods, an omnichannel restaurant operator and the biggest franchisee of Yum Brands within the Indian sub-continent is backed by marquee traders comparable to Samara Capital, Goldman Sachs, CX Partners and Edelweiss.

Through the supply, Sapphire Foods India goals to lift Rs 2,073 crore. The IPO is totally a suggestion of sale (OFS) of 17,569,941 fairness shares by promoters and present shareholders. The firm won’t obtain any proceeds from the supply.
The Sapphire Foods IPO had opened for subscription on Tuesday, November 9, 2021, and concluded at 5 pm Thursday, November 11, 2021. It had a value band of Rs 1,120-1,180 per share.
Going forward, traders will now look ahead to the share allotment date of the problem. The finalisation of the premise of allotment for Sapphire Foods India is anticipated to happen on Tuesday, November 16, 2021, as per the data offered within the purple herring prospectus.