KFC, Pizza Hut operator Sapphire Foods' IPO to open on Nov 9

Sapphire foods IPO: Sapphire Food India's IPO comprises a pure offer for sale (OFS) for 17.57 million shares by existing shareholders and promoters.

The issue will close on November 11 with the firm planning to list on the bourses on November 22.

Sapphire Food India's IPO comprises a pure offer for sale (OFS) for 17.57 million shares by existing shareholders and promoters.

As a part of the OFS, QSR Management Trust will sell 8.50 lakh shares, Sapphire Foods Mauritius Ltd will offload 55.69 lakh shares, WWD Ruby Ltd will divest 48.46 lakh shares and Amethyst will offer 39.62 lakh shares.

Sapphire Foods Mauritius currently has a 46.53% stake in the company, WWD Ruby holds an 18.79% stake, and QSR Management Trust has a 5.96% stake.

JM Financial, BofA Securities, ICICI Securities and IIFL Securities are the lead managers to the company's public issue. The equity shares of the company will be listed on BSE and NSE.

Sapphire Foods India, which filed its draft papers with markets regulator SEBI in August, has received capital markets regulator Sebi's nod to raise funds through IPO.