Home International Devyani International Limited makes a strong debut on the bourses

Devyani International Limited makes a strong debut on the bourses

by PrittlePrattleNews

Chennai, August 16, 2021: Devyani International Limited (the “Company”), the largest franchisee of Yum Brands in India, listed on the NSE at Rs. 140.90 and on BSE at Rs. 141.00 per share, approx. 56% per cent higher than its issue price of Rs. 90/-. Among the four scrips listed today, it was the best performing.

The shares of the company at day end closed at Rs. 123.35 per share on BSE and Rs. 122.60 per share on NSE.

This is the largest IPO by a QSR Company in India and is the second highest subscribed IPO this year. The Public Offer has raised approx. 1,18,000 Cr demand from the investors – again a record performance.

On this occasion, Mr. Ravi Kant Jaipuria, Chairman- Devyani International Limited said “We have embarked upon a new phase of our journey, today. I am very happy to share that we have successfully completed the initial public offering of Devyani International Limited that witnessed a strong reception from the investor community. This brings on board marquee investors across the spectrum of FIIs, domestic mutual funds and insurance companies. I would like to take this opportunity to welcome our new shareholders and thank all of them and our bankers, advisors, business partners and employees for their whole-hearted support to our IPO. We are very excited as we list Devyani International as a public entity on the Indian stock exchanges. This will augment our shareholder base, improve stakeholder value and expand our financial flexibility to address medium-to-long term growth prospects.”

The Market Capitalization of the Company post today’s closing stood approx. at Rs. 14,833 crore at BSE.

The Initial Public Offering of the company was Rs 1838 cr and the issue was closed on 6th August 2021. The portion reserved for retail investors was subscribed 39.51 times. While the Qualified Institutional Buyer category was subscribed 95.27 times, the Non-Institutional Investor category was subscribed 213.06 times and Employee Reserved category was subscribed 4.70 times.

Kotak Mahindra Capital Company Ltd, CLSA India Pvt Ltd, Edelweiss Financial Services Ltd, Motilal Oswal Investment Advisors Ltd are the BRLMs to the Offer.

Company Information

Devyani International Limited is the largest franchisee of Yum Brands in India and are among the largest operators of chain quick service restaurants (“QSR”) in India (Source: Global Data Report), on a non-exclusive basis, and operate 735 stores across India, Nepal & Nigeria as of March 31, 2021. Yum! Brands Inc. operates brands such as KFC, Pizza Hut and Taco Bell brands and has presence globally with more than 50,000 restaurants in over 150 countries, as of December 31, 20201. In addition Devyani International Limited is the franchisee for the Costa Coffee brand and stores in India 

Disclaimer: The following Press Release comes to you under a network of a strategic syndication partnership with PR Newswire. Prittle Prattle News takes no editorial responsibility for the same.

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