Sapphire Foods India Ltd

Sapphire Foods India Ltd

Sapphire Foods India Limited was initially incorporated with the name 'Samarjit Advisors Private Limited' on 10 November 2009. Subsequently the Company changed the name to 'Sapphire Foods India Private Limited' on 07 January 2015. Thereafter Company converted into a Public Limited Company and name of the Company was changed to Sapphire Foods India Limited on 15 June 2021. The Company is a leading Yum franchisee operator in the Indian subcontinent with presence in India Sri Lanka and Maldives. It is engaged in the franchise business of KFC and Pizza Hut restaurants in India. The Company started their operations in September 2015 following the acquisition of about 270 KFC and Pizza Hut restaurants in India and Sri Lanka by a group of leading Private Equity firms and managed by a team of professionals. On 08 March 2017the company has allotted 41088390 bonus equity shares of Rs 10 each to the shareholders in the ratio of 70:1.During the FY2020the company has allotted 7136094 equity shares of Rs 10 each at a price of Rs 339 per share on conversion of CCPS and CCDs.On 03 August 2020the company has allotted 2184520 equity shares of Rs 10 each at a price of Rs 187 per share on rights basis.As on 31 March 2021the company has one direct subsidiary and 3 indirect subsidiaries under its roof. On 05 August 2021the company has allotted 9189789 equity shares of Rs 10 each at a price of Rs 505.13 per share on preferential basis.On the same daythe company also allotted 183682 equity shares of Rs 10 each at a price of Rs 544.42 per share on preferential basis.Sapphire Foods owned and operated 209 KFC restaurants in India and the Maldives 239 Pizza Hut restaurants in India Sri Lanka and the Maldives and two Taco Bell restaurants in Sri Lanka as of June 2021.During the month of November 2021the company came out with an Rs 2073-crore public issue that was entirely an offer for sale by selling shareholders including promoters.The company offered 175669941 shares of Rs 10 each at a premium of Rs 1170 per share.The allotted IPO shares were listed on the BSE Ltd and National Stock Exchange of India Ltd(NSE) on 18 November 2021.The Company has 579 restaurant outlets (KFC Pizza Hut and Taco Bell) in operation by the close of FY 22.As of March 31 2022 the Company owned and operated 264 KFC and 310 Pizza Hut restaurants in India 90 Pizza Hut and 5 Taco Bell restaurants across India Sri-Lanka and Maldives.As on March 31 2022 Company has 1 wholly owned subsidiary company viz. Gamma Pizzakraft (Overseas) Private Limited which in turn has 3 wholly-owned subsidiaries viz. Gamma Pizzakraft Private Limited India; Gamma Pizzakraft Lanka (Private) Limited Sri Lanka and French Restaurant Private Limited Sri Lanka & one subsidiary viz. Gamma Island Foods Private Limited Maldives. The Board of Directors of the Company at their meeting held on February 11 2022 approved Scheme of Merger by Absorption of Gamma Pizzakraft (Overseas) Private Limited (GPOPL) and Gamma Pizzakraft Private Limited (GPPL) with Sapphire Foods India Limited (Company) and their respective shareholders where the Appointed Date of the Scheme stood April 1 2022. As of March 31 2023 the Company owned and operated 341 KFC and 286 Pizza Hut restaurants in India 105 Pizza Hut and 9 Taco Bell restaurants in Sri Lanka and 1 KFC and Pizza Hut each in Maldives. The Company introduced compact omnichannel restaurants and expanded its footprints across over 135 cities in India. It opened total 164 new restaurants in FY 2022-23 (78 KFC 67 Pizza Hut in India and 15 Pizza Hut and 4 Taco Bell in Sri Lanka). It added 78 new KFC stores and 67 new Pizza Hut stores during the year. In April 2023 it launched 10 New Pizzas and sauces. The Board of Directors of the Company at their meeting held on February 11 2022 approved Scheme of Merger by Absorption of Gamma Pizzakraft (Overseas) Private Limited (GPOPL) and Gamma Pizzakraft Private Limited (GPPL) with Sapphire Foods India Limited (Company) and their respective shareholders where the Appointed Date of the Scheme stood April 1 2022.