Sapphire Foods India Limited files DRHP with SEBI

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Sapphire Foods India Limited (SFIL), YUM’s largest franchisee operator in the Indian subcontinent in terms of revenue in the financial year 2020, filed its DRHP with SEBI.

SFIL is also Sri Lanka’s largest international QSR chain in terms of revenue for the financial year 2021 and number of restaurants operated as of March 31, 2021. The Company established a presence in the Maldives. As of March 31, 2021, they own and operate 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. In 2020, KFC, Pizza Hut and Taco Bell recorded system sales worldwide of US$26.2 billion, US$11.9 billion and US$11.7 billion, respectively.

The IPO Initial Public Offering (IPO) comprises of up to 17,569,941 Equity Shares of face value of ₹10 each of Sapphire Foods India Limited through an offer for sale by the selling shareholders, comprising of up to 850,000 equity shares by QSR Management Trust, up to 5,569,533 equity shares by Sapphire Foods Mauritius Limited, up to 4,846,706 equity shares by WWD Ruby Limited, up to 3,961,737 equity shares by Amethyst Private Limited, up to 80,169 equity shares by AAJV Investment Trust, up to 1,615,569 equity shares by Edelweiss Crossover Opportunities Fund and up to 646,227 equity shares by Edelweiss Crossover Opportunities Fund – Series II.

The offer includes a reservation for subscription by eligible employees not exceeding 1% of the post-offer paid-up equity share capital.

JM Financial Limited, BofA Securities India Limited, ICICI Securities Limited and IIFL Securities Limited are the book running lead managers.

The equity shares will be listed on BSE and NSE.

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