Sapphire Foods IPO sees 53% subscription on Day 2

Sapphire Foods

The initial public offering of Sapphire Foods, which operates KFC and Pizza Hut restaurants, received bids for 51.14 lakh equity shares against an IPO size of 96.63 lakh equity shares, a subscription of 53 percent by the morning of November 10, the second day of bidding.

Retail investors remained at the forefront, subscribing 2.78 times the portion reserved for them. Qualified institutional investors have, so far, bid for only 2 percent of their quota of shares, while non-institutional investors bought 5 percent shares of their portion.

Sapphire Foods’ offer saw 49 percent subscription on the first day of bidding.

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