KFC, Pizza Hut Operator Sapphire Foods Lists At 14% Premium
NDTV
The shares of Sapphire Foods India, which operates KFC and Pizza Hut made a strong debut at the exchanges on Thursday.
New Delhi: The shares of Sapphire Foods India, which operates KFC and Pizza Hut made a strong debut at the exchanges on Thursday. The stock got listed at Rs 1,350 on the National Stock Exchange (NSE), a premium of 14.41 per cent over its issue price of Rs 1,180. On the BSE platform, the stock started trading at Rs 1,311.
However, the stock gave up all of its gains and plunged into red soon after the positive opening.
The Rs 2,073-crore IPO had received bids for 1,03,68,948 shares against 96,63,468 shares on offer, translating into 1.07 times subscription, according to NSE data.
The category for Retail Individual Investors (RIIs) was subscribed 5.38 times, non-institutional investors' portion by 29 per cent and qualified institutional buyers' (QIBs) by 3 per cent.
