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Allotment, Review, and GMP for the upcoming Sapphire Foods Initial Public Offering in 2021

• Definition of the Initial Public Offering for Sapphire Foods IPO– The business operates as a YUM franchisee in India and other Asian countries. For the fiscal year 2021, the company’s revenue of INR1.90 billion accounted for 35% of the total market revenue, and as of March 31, 2021, the company’s 68 restaurants accounted for 39% of the total number of outlets in the market.
• A branch has been set up in the Maldives as well. It had 209 KFC establishments in India and the Maldives, 239 Pizza Huts in India, Sri Lanka, and the Maldives, and 2 Taco Bells in Sri Lanka as of the 30th of June, 2021.
• As part of its strategy for growth in both its restaurant brand and its food category, the company prioritizes opening new locations in densely populated parts of India’s major cities.
• Through its franchise agreement with YUM, it is authorized to use YUM’s system and system property to operate under the KFC brand in a number of Indian states and throughout the Maldives, the Pizza Hut brand in a number of Indian states and throughout Sri Lanka and the Maldives, and the Taco Bell brand throughout Sri Lanka on a non-exclusive basis. It is sponsored by QSR Management Trust and Sapphire Foods Mauritius Limited.

• Its agreement with YUM as a franchisee lets the company operate under the KFC brand in several Indian states and all over the Maldives, under the Pizza Hut brand in several Indian states and all over Sri Lanka and the Maldives, and under the Taco Bell brand all over Sri Lanka.
• It has a dedicated business development and projects team and a well-defined process for rolling out new restaurants. This lets it find new places for restaurants, build them out quickly, and run them efficiently with the best-trained staff to reach the sales goal for each restaurant. As of March 31, 2019, SFIL had 376 restaurants in the Territories. By June 30, 2021, that number will have grown to 450 restaurants. As of March 31, 2021, the company had 437 stores. As of June 30, 2021, it had 482 stores.

Strengths in the Market:

• One of India’s largest restaurant franchisee operators and Sri Lanka’s largest international quick-service restaurant chain.
• YUM’s largest franchise operator on the Indian subcontinent in terms of revenue.
• Focus on giving great service to your customers. Quality control and running things well
• Model of business that can grow
• Strong corporate governance practices and a team of managers with a lot of experience.

Company Financials

Sapphire Foods IPO details

Subscription Dates	9 – 11 November 2021
Price Band	INR1,120 – 1,180 per share
Fresh issue	Nil
Offer For Sale	17,569,941 shares (INR1,967.83 – 2,073.25 crore)
Total IPO size	17,569,941 shares (INR1,967.83 – 2,073.25 crore)
Minimum bid (lot size)	12 shares
Face Value	INR10 per share
Retail Allocation	10%
Listing On	NSE, BSE

Sapphire Foods’ Financial Performance (in INR crore)

	FY2019	FY2020	FY2021	Q1 FY2022
Revenue	1,206.3	1,351.7	1,081.2	313.9
Expenses	1,274.6	1,418.3	1,179.9	339.6
Net income	(69.1)	(164.2)	(104.1)	(25.4)
Margin (%)	(5.7)	(12.1)	(9.6)	(8.1)

Sapphire Foods Valuation (as of FY2021)

Earnings Per Share (EPS): (INR19.04)
Price/Earnings (PE ratio): NA
Return on Net Worth (RONW): (22.16%)
Net Asset Value (NAV): INR84.16 per share

Sapphire Foods IPO Subscription Details (no. of times)

Category	Shares Offered	Day 1	Day 2	Day 3
QIB	52,70,983	0.02	0.03	7.50
NII	26,35,491	0.05	0.29	3.46
Retail	17,56,994	2.56	5.38	8.70
Total	96,63,468	0.49	1.07	6.62

Also, Visit Anand Rathi Wealth.

Sapphire Foods IPO Registrar

Link Intime India Private Limited
C-101, 1st Floor,
247 Park Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: sapphire.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

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Sapphire Foods Contact Details

Sapphire Foods Limited
702, Prism Tower, A Wing, Mindspace, Link Road
Goregaon (West), Mumbai, 400 062
Phone: +91 22 6752 2343
Email: investor@sapphirefoods.in
Website: www.sapphirefoods.in

Sapphire Foods IPO Timetable

IPO Opening Date: 9 November 2021
IPO Closing Date: 11 November 2021
Finalisation of Basis of Allotment: 16 November 2021
Initiation of refunds: 17 November 2021
Transfer of shares to demat accounts: 18 November 2021
Listing Date: 18 November 2021
Opening Price on NSE: INR 1,350 per share (up 14.41% from IPO price)
Closing Price on NSE: INR 1,227.70 per share (up 4.04% from IPO price)

 

 

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