Sebi Comes Out With Framework On Segregation, Monitoring Of Collateral At Client Level

Sapphire Foods India Ltd, which operates KFC and Pizza Hut shops, has filed draft papers with capital markets regulator Sebi to boost funds by way of an preliminary public providing (IPO).

The preliminary share-sale can be solely an offer-for-sale (OFS) of 17,569,941 fairness shares by promoters and present shareholders, in accordance with the draft crimson herring prospectus (DRHP).

As part of the OFS, QSR Management Trust will promote 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will provide 39.62 lakh shares.

In addition, AAJV Investment Trust will promote 80,169 shares, Edelweiss Crossover Opportunities Fund will offload 16.15 lakh shares and Edelweiss Crossover Opportunities Fund-Series II will divest 6.46 lakh shares.

Sapphire Foods, an omni-channel restaurant operator and the most important franchisee of Yum Brands within the Indian sub-continent, is backed by marquee buyers equivalent to Samara Capital, Goldman Sachs, CX Partners and Edelweiss.

As of March 31, 2021, Sapphire Foods owned and operated 204 KFC eating places in India and the Maldives, 231 Pizza Hut eating places in India, Sri Lanka and the Maldives, and two Taco Bell eating places in Sri Lanka.

Devyani International, which is the opposite franchisee of Yum! Brands in India, operates 297 Pizza Hut shops and 264 KFC shops. It launched its Rs 1,838-crore IPO final week.

On Monday, Sapphire Foods introduced that it raised Rs 1,150 crore funds by way of a mixture of major and secondary rounds from non-public fairness funds led by Creador, NewQuest Capital Partners and TR Capital.

JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers to the corporate’s public problem. The fairness shares of the corporate can be listed on BSE and NSE. 


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