KFC, Pizza Hut operator Sapphire Foods files IPO papers with SEBI
The Hindu
Sapphire Foods, an omni-channel restaurant operator and the largest franchisee of Yum Brands in the Indian sub-continent, is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss.
Sapphire Foods India Ltd, which operates KFC and Pizza Hut outlets, has filed draft papers with capital markets regulator Securities and Exchange Board Of India to raise funds through an initial public offering (IPO). The initial share-sale will be entirely an offer-for-sale (OFS) of 17,569,941 equity shares by promoters and existing shareholders, according to the draft red herring prospectus (DRHP). As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.
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