New Delhi, Nov 10 (PTI) The initial public offer of Sapphire Foods India Limited, which operates KFC and Pizza Hut outlets, was fully subscribed on the second day of subscription on Wednesday.

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The Rs 2,073-crore IPO received bids for 1,03,68,948 shares against 96,63,468 shares on offer, translating into 1.07 times subscription, according to NSE data.

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The category for Retail Individual Investors (RIIs) was subscribed 5.38 times, non-institutional investors' portion by 29 per cent and qualified institutional buyers' (QIBs) by 3 per cent.

The company's IPO is of up to 1.75 crore (1,75,69,941) equity shares and the company has fixed the price band at Rs 1,120-1,180 per share.

Sapphire Foods India Ltd on Monday raised Rs 933 crore from anchor investors.

Sapphire Foods, an omnichannel 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.

JM Financial, BofA Securities India, ICICI Securities and IIFL Securities are the managers to the offer. The equity shares of the company will be listed on BSE and NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)