Sapphire foods files IPO papers with SEBI

Sapphire Foods India Ltd, which works KFC and Pizza Hut outlets, has filed draft papers with capital market regulator Sebi to raise funds through an initial public offer (IPO). The initial share sale will be totally an offer-for sale (OFS) of 17,569,941 value shares by advertisers and existing investors, as indicated by the draft red herring prospectus (DRHP).

As a piece of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will strip 48.46 lakh offers and Amethyst will offer 39.62 lakh shares.

What’s more, AAJV Investment Trust will sell 80,169 offers, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh offers and Edelweiss Crossover Opportunities Fund-Series II will strip 6.46 lakh shares.

Sapphire Foods, an omni-channel restaurant operator and the biggest franchisee of Yum Brands in the Indian sub-continent, is sponsored by marquee investors like Samara Capital, Goldman Sachs, CX Partners and Edelweiss.

As of March 31, 2021, Sapphire Foods claimed and worked 204 KFC restaurants in India and the Maldives, 231 Pizza Hut cafés in India, Sri Lanka and the Maldives, and two Taco Bell cafés in Sri Lanka.