Latest News -Devyani International Limited IPO having a price band fixed at Rs 86-90 per share, issue opens next week

Devyani International has fixed the price band for its forthcoming initial public offer (IPO) at Rs 86-90 range. The Rs 1,838 crore issue by the largest franchisee of KFC, Pizza Hut, and Costa Coffee, will open for subscription on August 4 and close on August 6.

About Company :-

Incorporated in 1991, Devyani International Ltd is the largest franchisee of Yum Brands and among the largest quick-service restaurants (QSR) chain operators in India with 655 stores across 155 cities all over the country as of Mar 31, 2021. Yum Brands Inc operates many fast food brands i.e. Pizza Hut, KFC, and Taco Bell brands.

It operates 3 business verticals;

  1. Core Brands (KFC, Pizza Hut, and Costa Coffee stores in India),

     

  2. International Business (stores in foreign countries i.e. Nepal and Nigeria), and

  3. Other Businesses (own branded stores i.e. Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar).

Initially, the business started with a Pizza Hut store in Jaipur but subsequently expanded operations in both KFC and Pizza hut, as of March 31, 2021, it operates 264 KFC stores, 297 Pizza Hut stores, and 44 Costa Coffee stores in India.

Competitive strengths

  • The product portfolio of well-recognized QSR brands.
  • Largest franchisee of Yum Brands in India.
  • Cross brand synergies provide operating leverage benefits.
  • Disciplined financial approach with a strong focus on cash flow management.
  • Strong store network; 264 KFC Stores, 297 Pizza Hut stores, and 44 Costa coffee stores.

Company Promoters:

Ravi Kant Jaipuria, Varun Jaipuria, and RJ Corp Limited are the company promoter.

Company Financials:

ParticularsFor the year/period ended (₹ in million)
 31-Mar-2131-Mar-2031-Mar-19
Total Assets16,684.0718,835.7618,074.90
Total Revenue11,988.9515,350.4113,236.83
Profit After Tax(813.24)(787.52)(592.90)

Objects of the Issue:

  • Repayment and/or prepayment of company’s borrowings fully or partially.
  • General corporate purposes.

Devyani International IPO Details

IPO Opening DateAug 4, 2021
IPO Closing DateAug 6, 2021
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price₹86 to ₹90 per equity share
Market Lot165 Shares
Min Order Quantity165 Shares
Listing AtBSE, NSE
Issue Size[.] Eq Shares of ₹1
(aggregating up to ₹1,838.00 Cr)
Fresh Issue[.] Eq Shares of ₹1
(aggregating up to ₹440.00 Cr)
Offer for Sale155,333,330 Eq Shares of ₹1
(aggregating up to ₹1,398.00 Cr)

Devyani International IPO Tentative Timetable

The Devyani International IPO open date is Aug 4, 2021, and the close date is Aug 6, 2021. The issue may list on Aug 16, 2021.

IPO Open DateAug 4, 2021
IPO Close DateAug 6, 2021
Basis of Allotment DateAug 11, 2021
Initiation of RefundsAug 12, 2021
Credit of Shares to Demat AccountAug 13, 2021
IPO Listing DateAug 16, 2021

Devyani International IPO Lot Size

The Devyani International IPO market lot size is 165 shares. A retail-individual investor can apply for up to 13 lots (2145 shares or ₹193,050).

ApplicationLotsSharesAmount (Cut-off)
Minimum1165₹14,850
Maximum132145₹193,050

Devyani International IPO Promoter Holding

Pre Issue Share Holding75.79%
Post Issue Share Holding67.99%