SAPPHIRE FOODS INDIA LIMITED INITIAL PUBLIC OFFERING TO OPEN ON NOVEMBER 09, 2021

SAPPHIRE FOODS INDIA LIMITED INITIAL PUBLIC OFFERING TO OPEN ON NOVEMBER 09, 2021

· Price Band fixed at Rs 1,120 to Rs 1,180 per equity share of face value of Rs. 10 each (“Equity Shares”)

· Offer to remain open from November 09, 2021 to November 11, 2021

Mumbai, November 02, 2021: Sapphire Foods India Limited to open its initial public offering (“Offer”) on November 09, 2021.

The Price Band of the offer has been fixed at Rs. 1,120 to Rs. 1,180 per Equity Share. Bids can be made for a minimum of 12 equity shares and in multiples of 12 Equity Shares thereafter.

The initial public offering consist of offer for sale up to 17,569,941 equity shares of face value of Rs. 10 each (“Equity Shares”) comprising of up to 850,000 equity shares by QSR Management Trust, up to 5,569,533 equity shares by Sapphire Foods Mauritius Limited (together with QSR Management Trust, the “Promoter Selling Shareholders”), up to 4,846,706 equity shares by WWD Ruby Limited, up to 3,961,737 equity shares by Amethyst Private Limited, up to 80,169 equity shares by AAJV Investment Trust, up to 1,615,569 equity shares by Edelweiss Crossover Opportunities Funds and up to 646,227 equity shares by Edelweiss Crossover Opportunities Fund-Series II (together with WWD Ruby Limited, Amethyst Private Limited, AAJV Investment Trust and Edelweiss Crossover Opportunities Funds, “The Investor Selling Shareholders”).

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (“SEBI ICDR Regulations”). This Offer is being made through the Book Building Process in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company and the Selling Shareholders (excluding WWD Ruby Limited) in consultation with the BRLMs may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price. 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. If at least 75% of the Offer cannot be allotted to QIBs, the Bid Amounts received by our Company shall be refunded.

Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non- Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All Bidders, other than Anchor Investors, are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID in case of RIBs) which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or through the UPI Mechanism, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA Process.

For details, see “Offer Procedure ” beginning on page 418 of the Red Herring Prospectus.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.

Disclaimer:

SAPPHIRE FOODS INDIA LIMITED is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a red herring prospectus (“RHP”) with the Registrar of Companies. The RHP is available on SEBI website at www.sebi.gov.in as well as on the website of the book running lead managers, i.e., JM Financial Limited at www.jmfl.com, BofA Securities India Limited at www.ml-india.com, ICICI Securities Limited at www.icicisecurities.com and IIFL Securities Limited at www.iiflcap.com and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see “Risk Factors” on page 29 of the RHP. Potential investors should not rely on the DRHP for any investment decision.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”) or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) in the United States, to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a) of the U.S. Securities Act. There will be no public offering of Equity Shares in the United States.