Sapphire Foods India IPO
Sapphire Foods India IPO — date, price band, lot size & details 2021
Sapphire Foods India listed on 18 Nov 2021 at ₹1,350, 14.4% above the ₹1,180 issue price.
Sapphire Foods India runs KFC, Pizza Hut and Taco Bell restaurants in India, Sri Lanka and the Maldives as a Yum Brands franchisee. Its total income was Rs 1,081.24 crore in FY2021.
Stock price
Sapphire Foods India is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 09 Nov 2021
- Close 11 Nov 2021
- Allotment 16 Nov 2021
- Refund/credit 17 Nov 2021
- Listing 18 Nov 2021
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Nov, 2021 |
|---|---|
| Price Band | ₹1120 – ₹1180 |
| Face Value | ₹10 |
| Lot Size | 12 Shares |
| Issue Size | ₹2073.25 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,160 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 12 shares at the ₹1180 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 12 | ₹14,160 |
| Retail (max) | 14 | 168 | ₹1,98,240 |
| S-HNI (min) | 15 | 180 | ₹2,12,400 |
| S-HNI (max) | 70 | 840 | ₹9,91,200 |
| B-HNI (min) | 71 | 852 | ₹10,05,360 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Its restaurant count grew from 376 in 2019 to 437 in 2021.
- 02EBITDA stayed positive in every year shown, at Rs 178.74 crore in FY2021.
- 03The loss narrowed from Rs 159.25 crore in FY2020 to Rs 99.90 crore in FY2021.
- 04Borrowing was low at Rs 95.23 crore on 30 June 2021, against net worth of Rs 425.85 crore.
- 05It is the largest Yum franchisee in the Indian subcontinent by revenue in FY'20, across 3 countries.
Risks · 5
- 01The company made losses in every period shown, including Rs 26.40 crore in the three months to 30 June 2021.
- 02The whole Rs 2,073.25 crore issue was offer for sale, so no money went to the company.
- 03Total income fell from Rs 1,351.74 crore in FY2020 to Rs 1,081.24 crore in FY2021.
- 04The business depends on franchise agreements with Yum Brands for KFC, Pizza Hut and Taco Bell, across 437 restaurants.
- 05Promoters and the promoter group held 61.36% before the issue and 51.26% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Sapphire Foods India offer document.
| Metric | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|
| Assets | 1,371.08 | 1,348.94 | 1,380.66 | 1,567.47 |
| Total Income | 313.93 | 1,081.24 | 1,351.74 | 1,206.28 |
| Profit After Tax | -26.40 | -99.90 | -159.25 | -69.40 |
| EBITDA | 42.72 | 178.74 | 185.60 | 148.68 |
| NET Worth | 425.85 | 444.29 | 488.86 | 365.97 |
| Reserves and Surplus | 461.46 | 479.90 | 524.47 | 401.58 |
| Total Borrowing | 95.23 | 75.66 | 71.20 | 95.90 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Sapphire Foods India RHP.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Sapphire Foods India IPO will be updated shortly.
About the company
On 31 March 2021 it ran 204 KFC restaurants in India and the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and 2 Taco Bell restaurants in Sri Lanka. Its restaurant count grew from 376 in 2019 to 437 in 2021.
It has an in-house supply chain function, runs warehouses in 5 Indian cities and uses Yum's global online and digital channels.
The IPO was Rs 2,073.25 crore and was entirely an offer for sale by promoters and investors, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Sapphire Foods India IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
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ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Bofa Securities India Limited
25 issues handledBest listing: Tata Technologies (+140.0%). Weakest: SBI Cards (-12.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Sapphire Foods India?
The current Grey Market Premium is ₹60, or 5% over the issue price.
What is the Sapphire Foods India IPO price band?
₹1120 to ₹1180, on a face value of ₹10.
When is the allotment?
The basis of allotment is 16 November 2021, with listing on 18 November 2021.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
