On Monday, Sapphire Foods announced that it raised Rs 1,150 crore funds through a mix of primary and secondary rounds from private equity funds
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.
In addition, AAJV Investment Trust will sell 80,169 shares, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.
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.
As of March 31, 2021, Sapphire Foods owned and operated 204 KFC restaurants in India and the Maldives, 231 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka.
On Monday, Sapphire Foods announced that it raised Rs 1,150 crore funds through a mix of primary and secondary rounds from private equity funds led by Creador, NewQuest Capital Partners and TR Capital.
JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers to the company’s public issue. The equity shares of the company will be listed on BSE and NSE.
Sigachi Ind files draft papers
Sigachi Industries, manufacturer of cellulose-based excipient, has filed draft papers with capital markets regulator Sebi to raise funds through an initial share-sale. The initial public offering (IPO) will see the sale of up to 7.69 million equity shares, draft red herring prospectus filed with Sebi showed.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.