The initial public offer of Sapphire Foods India Limited, which operates KFC and Pizza Hut outlets, was subscribed 49 per cent on the first day of subscription on Tuesday.
The IPO received bids for 47,11,212 shares against 96,63,468 shares on offer, according to data available with the NSE.
The portion meant for Retail Individual Investors (RIIs) was fully subscribed and close with 2.56 times subscription. The category for Qualified Institutional Buyers (QIBs) received 2 per cent subscription and that for non-institutional investors was subscribed 5 per cent.
The initial public offer (IPO) is up to 1,75,69,941 equity shares and is in a price range of Rs 1,120-1,180 per share.
Sapphire Foods India Ltd on Monday raised Rs 933 crore from anchor investors.
At the upper end of the price band, the initial public offering is expected to fetch Rs 2,073 crore.
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 Limited, BofA Securities India Limited, ICICI Securities Limited and IIFL Securities Limited are the managers to the offer.
The equity shares of the company will be listed on BSE and NSE.