Devyani International IPO to open on 4 Aug
Premium- The IPO consists a fresh issue of Rs440 crore and an offer for sale of issuing upto 155.33 million shares by its existing shareholders and promoters
Food and beverages marjor Devyani International Ltd (DIL), the largest franchisee of Pizza Hut, KFC, and Costa Coffee, initial public offering will open on 4 August and close on 6 August.
The IPO consists a fresh issue of Rs440 crore and an offer for sale of issuing upto 155.33 million shares by its existing shareholders and promoters.
An OFS comprises 65.34 million shares by Dunearn Investments Mauritius Pte, upto 90 mln shares by RJ Corp Ltd,
The proceeds from the issue will be used for repayment of certain or full borrowings of its firm.
As on June 2021, the aggregate outstanding borrowings of its Company (on a consolidated level) is ₹ 541.59 crore.
Devyani is the single largest QSR company in India to be listed on Swiggy and was amongst the largest QSR company in India be to listed on the Zomato platform in 2019 and 2020
Despite the pandemic, it has continued to expand its store network and has opened 109 stores across its core brand business in the last 6 months. KFC and Pizza Hut were amongst the earliest to roll out contactless delivery in May 2020 and June 2020, respectively.
The firm currently operates 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee as on March 31, 2021 in India. Between March 2019-2021 the core brand stores saw a CAGR growth of 13.58% from 469 stores to 605 stores and the company attributes its success and continuous growth effort to its 9,356 employees.
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Investment Bankers appointed to the Issue are Kotak Mahindra Capital Company Ltd, CLSA India Pvt Ltd, Edelweiss Financial Services Ltd, Motilal Oswal Investment Advisors Ltd
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