Sapphire Meals IPO Subscribed 49% On First Day Of Situation

Sapphire Meals IPO was subscribed 49 per cent on first day of difficulty

Sapphire Meals, the franchise proprietor of KFC and Pizza Hut eating places in India, clocked 49 per cent subscription for its preliminary public provide (IPO), on the primary day of difficulty.

Traders bid for 47.11 lakh fairness shares towards a proposal dimension of 96.63 lakh. The difficulty closes on November 11.

Retail buyers have put in bids for 2.56 occasions of shares reserved for them.

The parts for non-institutional buyers booked solely 5 per cent, whereas certified institutional patrons’ (QIBs) portion have put in bids for two per cent shares of their reserved portion.

The corporate plans to boost Rs 2,073 crore by way of the general public difficulty, whereas it has already mopped up Rs 933 crore from anchor buyers on November 8, 2021.

The provide dimension was reduce all the way down to 96.63 lakh fairness shares, from 1.75 crore shares after fundraising by way of anchor e book.

The IPO is fully an offer-for-sale by promoters and buyers, so the corporate won’t obtain funds from the IPO.

The worth band for the provide has been mounted at Rs 1,120-1,180 per fairness share.

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