Everything You Need to Know About the Sapphire Foods IPO

Sapphire Foods is one of the Yum! Brands franchisee operators in the Indian subcontinent, Yum Brands is an American fast food corporation and operates the brands KFC, Pizza Hut, Taco Bell amongst others. The franchisee arrangement with YUM allows Sapphire Foods to operate, on a non-exclusive basis, the KFC brand in several states in India and across the Maldives, the Pizza Hut brand in several states in India and across Sri Lanka and the Maldives, and the Taco Bell brand across Sri Lanka.

It owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka, and the Maldives, and two Taco Bell restaurants in Sri Lanka, as of June 30, 2021. It is also Sri Lanka’s largest international QSR chain, in terms of revenue and the number of restaurants operated as of March 31, 2021, with 35% of the total market revenue and 39% of the total number of outlets in the market.

Sapphire Foods’ entire public offer comprises of offer for sale of 1.75 crore equity shares from existing shareholders.

Financial Snapshot:

Financial Year Ended Revenue (₹ Crores) Loss for the period (₹ Crores) EPS (₹)
March 2019 1,206.28 -69.40 -14.95
March 2020 1,351.74 -159.25 -31.36
March 2021 1,081.24 -99.90 -19.04
Three months ended June 2020 136.18 -75.17 -14.8
Three months ended June 2021 313.93 -26.40 -4.94

For more information, you can check out the IPO Prospectus filed by the company.

IPO Details:

Issue Period 9th November to 11th November 2021
Price Range ₹ 1120 to 1180 per share
Minimum Bid Quantity 12 and in multiples thereof
Finalisation of Allotment 16th November 2021
Initiation of Refunds 17th November 2021
Credit of Shares 18th November 2021
Listing Date 22nd November 2021
Mandate end Date 29th November 2021

How do I apply to the Sapphire Foods IPO?

You can apply for the Sapphire Foods IPO using any supported UPI app by following two steps:

  • Enter your bid on Console
  • Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for Sapphire Foods IPO?

You can check the allotment status for the Sapphire Foods IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.


Sapphire Foods of the Pizza Hut and KFC fame made a preferential issue to existing shareholders at Rs.505 in August.

The IPO is now at Rs.1120-1180.

It’d be a big :triangular_flag_on_post: from me. But of course, the public bites the dust; retail is already oversubscribed for Sapphire.


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Looks like this is in another long list of IPOs which do not make a profit but rather lose cash. Sometimes I wonder why people are in a hurry to list their business. The first objective should be to aim for some sort of profitability before going public.

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Because they are getting a great price right now. Why would anyone in their right mind will not list their company right now? If buyer isn’t worried, why should seller worry?

Question that should be asked is why are people in hurry to buy such companies and not wait for company to turn profitable.

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