Pizza Hut, KFC and Costa Coffee operator Devyani International opens IPO today | All you need to know

Image Source : DIL-RJCORP.COM

Pizza Hut, KFC and Costa Coffee operator Devyani International opens IPO today | All you need to know


Devyani International is all set to open its initial public offer today. The company has decided to allocate 9.16 crore equity shares to 41 anchor investors at Rs 90 apiece, aggregating to Rs 825 crore. The largest franchisee of Pizza Hut, KFC and Costa Coffee in India, on Wednesday said it has mobilized Rs 825 crore from anchor investors.

A total of 28 foreign portfolio investors (FPIs) participated in the anchor book on Tuesday. Some of them were Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Monetary Authority of Singapore, Abu Dhabi Investment Council, Government of Singapore, Jupiter Asset Management, Nomura and Macquarie.

In addition, 13 domestic investors including 6 mutual funds, 6 life insurance companies and one general insurance company participated in the anchor book too.


These included ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Nippon Life MF, Tata Mutual Fund MF, Sundaram Mutual Fund, Aditya Birla Sunlife, HDFC Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, Bajaj Allianz, Max Life Insurance Co and SBI General Insurance.

The initial public offering (IPO) consists of fresh issue of equity shares worth Rs 440 crore and an offer-for-sale of up to 155,333,330 equity shares by promoter and existing shareholder. Under the offer-for-sale, Dunearn Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Temasek Holdings, will offload 6,53,33,330 shares and promoter RJ Corp will sell 9 crore shares.

The company has fixed a price band of Rs 86-90 a share for its IPO and at the upper end of the price band, the public issue is expected to fetch Rs 1,838 crore. The three-day initial share-sale opened for subscription on Wednesday. The offer includes a reservation of up to 5.50 lakh equity shares for the company’s employees.


Also, 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional buyers and the remaining 10 per cent for retail investors.

Investors can bid for minimum 165 equity shares and in multiples of 165 equity shares thereafter. Proceeds from the fresh issue will be used to retire debt and general corporate purposes. Devyani International is an associate company of RJ Corp, the largest bottling partner of food and beverages (F&B) major PepsiCo, and has interests in the Indian retail F&B sector.

The company is the largest franchisee of Yum Brands, operating core brands such as Pizza Hut, KFC, Costa Coffee besides its own brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar. It currently operates 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee as on March 2021 in India.


Devyani International is led by Ravi Kant Jaipuria, promoter of RJ Corp and Virag Joshi, President and CEO, who have been key strategists to the expansion efforts by the company. Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors are the book running lead managers to the issue. 

Devyani international IPO Details:

IPO Opens on : 4 Aug 2021

IPO Closes on : 6 Aug 2021


Issue Type: Book Built Issue IPO

IPO Size : Rs. 1797.99 Cr / 199777774 Shares

1) Fresh Issue Rs. 400 Cr / 44444444 Shares

2) Offer for Sale Up to  155,333,330 Equity Shares / 1397.99 Cr

Face Value per share : Rs. 1

Devyani international IPO Price Band Per Equity Share: Rs. 86-90

Devyani international IPO Lot Size: 165 Shares

Devyani international Listing will at BSE,NSE


The promoters of Devyani international:

Ravikant Jaipuria,Varun Jaipuria & RJ Corp Limited

Devyani international IPO Tentative timeTable

IPO Allotment on 11 Aug 2021

Unblocking of ASBA 12 Aug 2021

Credit to Demat Accounts 13 Aug 2021

Devyani international Listing on 16 Aug 2021

ALSO READ | ​Rolex Rings IPO: Check allotment date, status; Grey Market Premium strong


Latest Business News


Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 


 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More