KFC, Pizza Hut Operator Sapphire Foods Lists At 14% Premium

New Delhi: The shares of Sapphire Foods India, which operates KFC and Pizza Hut made a robust debut on the exchanges on Thursday. The inventory obtained listed at Rs 1,350 on the National Stock Exchange (NSE), a premium of 14.41 per cent over its concern worth of Rs 1,180. On the BSE platform, the inventory began buying and selling at Rs 1,311.However, the inventory gave up all of its beneficial properties and plunged into pink quickly after the optimistic opening.The Rs 2,073-crore IPO had obtained bids for 1,03,68,948 shares towards 96,63,468 shares on supply, translating into 1.07 instances subscription, in response to NSE information.The class for Retail Individual Investors (RIIs) was subscribed 5.38 instances, non-institutional traders' portion by 29 per cent and certified institutional patrons' (QIBs) by 3 per cent.The firm had raised Rs 933 crore from anchor traders.Sapphire Foods, the most important franchisee of Yum Brands within the Indian sub-continent, is backed by marquee traders reminiscent of Samara Capital, Goldman Sachs, CX Partners and Edelweiss.As of March 31, 2021, Sapphire Foods 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.JM Financial, BofA Securities India, ICICI Securities and IIFL Securities acted as managers to the supply.On the opposite hand, shares in Paytm plummeted 21 per cent of their market debut.