Parent Company of KFC, Pizza Hut Files IPO Papers
Sapphire Foods India Ltd, which owns KFC and Pizza Hut restaurants, has filed draught documents with the capital markets regulator Sebi to raise funds through an IPO (IPO).
According to the draught red herring prospectus, the initial share sale would be fully an offer-for-sale (OFS) of 17,569,941 equity shares by promoters and current shareholders (DRHP). Sapphire Foods, an omni-channel restaurant operator and the largest Yum Brands franchisee in India, is backed by big names like Samara Capital, Goldman Sachs, CX Partners, and Edelweiss. Sapphire Foods had 204 KFC locations in India and the Maldives as of March 31, 2021, 231 Pizza Hut restaurants in India, Sri Lanka, and the Maldives, and two Taco Bell restaurants in Sri Lanka as of March 31, 2021.
Sapphire Foods stated on Monday that it has secured Rs 1,150 crore from private equity funds led by Creador, NewQuest Capital Partners, and TR Capital in a mix of primary and secondary rounds.
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