New Delhi, Nov 11 (PTI) The initial public offer of Sapphire Foods India Limited, which operates KFC and Pizza Hut outlets, was subscribed 6.62 times on the last day of subscription on Thursday.

The Rs 2,073-crore IPO received bids for 6,39,45,000 shares against 96,63,468 shares on offer, according to BSE data.

Also Read | Life Insurance Plans That Provide Highly Competitive Premium Rates For Their Customers.

The portion for Qualified Institutional Buyers (QIBs) was subscribed 7.50 times, while those for Retail Individual Investors (RIIs) 8.70 times and non institutional investors 3.46 times.

The company's initial public offer (IPO) was of up to 1.75 crore (1,75,69,941) equity shares and it 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.

Also Read | Tecno Spark 8 3GB+32GB Variant Launched in India at 9,299; Specifications & Features.

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 were 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)