Sapphire Foods lists at Rs 1,360 vs IPO price Rs 1,180

Sapphire Foods

KFC and Pizza Hut operator Sapphire Foods started off a first day trade with a decent premium of 15 percent on November 18, which is largely on expected lines.

The stock listed at Rs 1360.75 on the BSE and the opening tick on the National Stock Exchange was Rs 1,368, against issue price of Rs 1,180.

The initial public offering of Sapphire Foods had received good response from investors as it was subscribed 6.62 times during November 9-11, 2021. The portion set aside for qualified institutional buyers was booked 7.5 times and that of non-institutional investors saw 3.46 times subscription. Retail investors had bought shares 8.7 times the reserved portion.

News Source:- Moneycontrol

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