NEW DELHI: Sapphire Meals India Ltd, which operates KFC and Pizza Hut shops, has filed draft papers with capital markets regulator Sebi to lift funds via a preliminary public providing (IPO).
The preliminary share-sale shall be solely an offer-for-sale (OFS) of 17,569,941 fair shares by promoters and present shareholders, based on the draft crimson herring prospectus (DRHP).
As part of the OFS, QSR Administration Belief will promote 8.50 lakh shares, Sapphire Meals Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will provide 39.62 lakh shares.
As well as, AAJV Funding Belief will promote 80,169 shares, Edelweiss Crossover Alternatives Fund will offload 16.15 lakh shares and Edelweiss Crossover Alternatives Fund-Sequence II will divest 6.46 lakh shares.
Sapphire Meals, an omnichannel restaurant operator and the most important franchisee of Yum Manufacturers within the Indian sub-continent, is backed by marquee buyers akin to Samara Capital, Goldman Sachs, CX Companions, and Edelweiss.
As of March 31, 2021, Sapphire Meals owned and operated 204 KFC eating places in India and the Maldives, 231 Pizza Hut eating places in India, Sri Lanka, and the Maldives, and two Taco Bell eating places in Sri Lanka.
Devyani Worldwide, which is the opposite franchisee of Yum! Manufacturers in India operate 297 Pizza Hut shops and 264 KFC shops. It launched its Rs 1,838-crore IPO final week.
On Monday, Sapphire Meals introduced that it raised Rs 1,150 crore funds via a mixture of major and secondary rounds from personal fairness funds led by Creador, NewQuest Capital Companions, and TR Capital.
JM Monetary, BofA Securities, ICICI Securities, and IIFL Securities are the lead managers to the corporate public problem. The fairness shares of the corporation shall be listed on BSE and NSE.