Sapphire Foods sees muted debut, ends day with 3% gains over issue price

The firm's IPO had garnered nearly 7x subscription. Sapphire Foods is the largest YUM franchisee operator and runs KFC, Pizza Hut and Taco Bell restaurant chain

Sapphire Foods India, company that operates KFC, Pizza Hut and Taco Bell restaurant chain, had a muted stock market debut on Thursday. Its shares ended at Rs 1,216, a gain of just 3 per cent, or Rs 36 over its issue price of Rs 1,180. The stock hit a high of Rs 1,383.6 and a low of Rs 1,160 on the BSE.

The company’s IPO had garnered nearly 7 times subscription. Sapphire Foods is the largest YUM franchisee operator. The company has non-exclusive rights to operate restaurants under three of YUM’s leading brands.

Sapphire Foods’ IPO was entirely an offer