Sapphire Foods Plans Block Deal to Raise Rs 375 Crore, Selling Three Million Shares

27 Jun 2023 , 01:05 PM

Sapphire Foods India, the holder of KFC and Pizza Hut in India is looking to sell three million shares through a block deal at a price range of Rs 1,345 to Rs 1,391 per share, as per the term sheet agreements.

The company intends to raise $51 million (Rs 375 crore) through this share placement, as indicated by the term sheet revealed on June 26. On June 26, shares of Sapphire Foods closed 2.38 % higher at Rs 1,393.95 per share on the BSE.

Sapphire Foods is supported by a consortium of renowned Private Equity firms, including Samara Capital, Goldman Sachs, CX Partners, and Edelweiss Private Equity. A team of professionals manages it.

Being one of the largest restaurant operators in the Indian subcontinent, Sapphire Foods successfully operates over 400 KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives.

Established in September 2015, Sapphire Foods acquired approximately 250 KFC and Pizza Hut stores in India and Sri Lanka to establish its presence in the market.

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