Sapphire Foods IPO share allotment: Check status via BSE, Link Intime; GMP strong, listing next week

Sapphire Foods IPO allotment has been finalized by the company with the stock expected to debut on the bourses later next week. Sapphire Foods, a YUM Brands franchisee operator in India, Sri Lanka and Maldives, saw its Rs 2,073 crore IPO garner strong interest from investors, with the overall subscription tally reaching 6.62 times as all category of investors oversubscribed their portion of the issue. The initiation of refund or the unblocking of ASBA account will take place today with shares being credited to investor accounts tomorrow. 

In the unlisted space, the shares of Sapphire Foods were trading at a premium of Rs 85 per share from the IPO price of 1,180 apiece. The premium in grey market was down from Rs 120 earlier last week. Sapphire Foods has seen its net sales fall from Rs 1,193 crore in financial year 2018-19 to Rs 1,019 crore in the previous fiscal year. The company has reported losses in the last three years with EBITDA margin of 12.2%. As of Sep 2021, the company operates 219 stores of KFC, around 261 stores of Pizza Hut and 2 stores of Taco Bell. SFL operates 219 KFC stores and 188 Pizza Hut stores in India and more across Sri Lanka and Maldives.

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Analysts have mixed views on the issue with those at Choice Broking advising caution on the issue. The brokerage firm said that at the higher price band, the issue is valued at P/S of 7.4x which is discount to peers such as Devyani international at P/S of 14.8x and peer average P/S of 12.8x. “While valuation seems reasonable compared to peers, we are concerned about business profitability due to higher likelihood of continuing incurring losses in the coming fiscals,” they added. Meanwhile, Mardwadi Financial Services had a ‘Subscribe’ rating citing reasonable valuations for QSR brand with a substantial market presence.

Check Sapphire Food share allotment status via registrar Link Intime India website

To check the share allotment status of Sapphire Foods on the registrar website, investors need to select the company name from the drop-down list on the Link Intime India website. Post that, investors need to enter either their PAN, Application Number or Depository/Client ID. Further, after entering the permanent account number or Application Number or Depository/Client ID in the box, a captcha needs to be entered in the provided space and click the submit button. This will display the number of shares that have been applied and allotted to the investor.

Check share allotment status via BSE website

Another way to check the allotment status for Sapphire Foods is through the website of Bombay Stock exchange. On the following link — (https://www.bseindia.com/investors/appli_check.aspx) — investors can check the allotment status after selecting ‘equity’ as the issue type, and ‘Sapphire Foods’ as the issue name from the drop-down list. Enter the application number and PAN (permanent account number). Click on ‘I am not a Robot’. In the last step, click on the search tab to view the allotment details.