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The initial public offering (IPO) Sapphire Foods India saw nearly 7 times more demand than the shares on offer. The qualified institutional buyers (QIBs) portion garnered 7.5 times subscription, the high networth individual (HNI) portion was subscribed 3.5 times and the retail quota garnered nearly 9 times subscription.
Sapphire Foods is the largest YUM franchisee operator. The company has non-exclusive rights to operate restaurants under three of YUM’s leading brands—KFC, Pizza Hut and Taco Bell.
The company had set the price band for its IPO at Rs 1,120-1,180 per share. Sapphire Foods’ IPO was entirely an offer for sale worth
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