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Sapphire Foods India Ltd. regulated the food chain of multinational companies like Pizza Hut, KFC, taco bell in Indian subcontinents, the subscription for the initial public offering was opened on the date 9th of November and 17.5 million shares were offered for sale ( OFS) wholly by the promoters and investors and the closing date for Initial Public offering are said by authorities is 11th of November. The price band decided by Sapphire food, India limited is fixed 1,120 to 1,180 per share and those who are interested in bidding can claim for minimum of 12 shares and there is no certain limit prescribed by top-level management.
The company will issue an OFS 17,569,941 shares though the Initial Public Offer. The offer will constitute 27.7 per cent of the post-offer paid-up equity share capital of the company, said ICICI Securities in a note.
The company said up to 75 per cent of the shares are reserved for qualified institutional buyers, 15 per cent for non-institutional buyers and the remaining 10 per cent for retail investors.
Sapphire food limited is aiming to raise a minimum of 2,0375 crores from the offering and they have an existing boost up of 933 crores from the anchor investors ( who makes application of over 10 crores is deemed as an anchor investor) and major anchor investors who are indulging in subscribing for the offering is said to be Singaporean Government, fidelity funds, Abu Dhabi investments, Ashoka India opportunities funds, ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance Company and HDFC Mutual Funds