The share allotment of KFC and Pizza Hut operator Sapphire Foods is expected to be finalised on November 16. The public issue was closed on November 11.
The allotment can be checked either on the BSE website or on the IPO registrar’s website by following three easy steps:
On the BSE website:
a) Select equity and issue name (Sapphire Foods India Limited)
b) Enter Application number and PAN number
c) Finally check box (I’m not a robot) and click on search to allotment status
On the IPO registrar's website:
a) Select company name (Sapphire Foods India Limited - IPO)
b) Select and accordingly enter either PAN Number, or Application Number, or DP/Client ID, or Account Number/IFSC
c) Finally click on Submit button to know application status
After the finalisation of basis of allotment, the funds will be credited to the bank accounts of unsuccessful investors by November 17 and the equity shares will be transferred to the demat accounts of successful investors by November 18.
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Friday, being Gurunanak Jayanti, the markets will remain closed. Trading in the equity shares, therefore, will start from November 22.
Grey market data indicated that there is no great demand for Sapphire Foods shares which are available at a price of Rs 1,230-1,260, a premium of Rs 50-80 or 4.2-6.8 percent, over the expected final issue price of Rs 1,180, as per the IPO Watch and IPO Central.
The grey market is an unofficial platform. The trading in IPO shares generally starts with the announcement of the price band and continues till the shares get listed on the BSE and NSE.
The Rs 2,073-crore initial public offering was subscribed 6.62 times during November 9-11 with support from all kinds of investors. The portion set aside for qualified institutional buyers saw 7.5 times subscription and that of non-institutional investors was subscribed 3.46 times, while retail investors had put in bids 8.7 times the portion set aside for them.
Sapphire Foods, which has been posting losses in previous financial years, is one of YUM’s franchisee operators in the Indian subcontinent, and is also Sri Lanka’s largest international QSR (quick service restaurant) chain, in terms of revenue for the financial year FY21 and number of restaurants operated as of March 2021. The company has also established a presence in the Maldives.
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The company posted a loss of Rs 99.89 crore in FY21 as against a loss of Rs 159.25 crore a year before and the revenue from operations in the same period declined to Rs 1,019.62 crore from Rs 1,340.41 crore because of the COVID crisis.
In the June 2021 quarter, the company managed to narrow its losses to Rs 26.4 crore, from a loss of Rs 75.17 crore in the corresponding period last fiscal, and revenue increased significantly to Rs 303.05 crore from Rs 110.99 crore in same quarters.
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As of June 2021, it 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.