Sapphire Foods IPO Subscription Status: Day 1 Live Updates

The initial public offering of Sapphire Foods India Ltd., the local partner of Yum! Brands, kicked off on Tuesday, more than two months after the world’s biggest restaurant operator’s other India franchise operator listed on the bourses.

The three-day IPO is a pure offer-for-sale by promoters and existing shareholders, according to the red herring prospectus by the operator of KFC and Pizza Hut stores in the country. Investors can buy shares at Rs 1,120-1,180 apiece. Only the selling shareholders will receive the net proceeds.

The company is seeking a market valuation of Rs 7,498.02 crore at the upper end of its price band.

Subscription Details: Day 1

The IPO was subscribed 0.17 times or 17% as of 11 a.m. on Nov. 9.

• Institutional investors: 0 times.

• Non-institutional investors: 0.01 times.

• Retail investors: 0.93 times.

Research Reports on Sapphire Foods IPO:

Watch BloombergQuint's IPO Adda with Sapphire Foods: