Devyani International makes strong market debut, share lists at 56% premium to issue price

Devyani International made a bumper debut on bourses today, with its share listing at Rs 141, 56.66% higher to the IPO issue price.

Share of Devyani International opened at Rs 141 on BSE against issue price of Rs 90. Price band of the IPO was fixed at Rs 86-90 per share. Total 36.42 lakh shares of the firm changed hands amounting to turnover of Rs  45.59 crore on BSE.

Market cap of the firm rose to Rs 14,652 crore.

The Rs 1,838-crore IPO ran was held from August 4 to August 6. On NSE, the share opened at Rs 140.90, 56.55% higher to issue price.

Total 9.17 crore shares of the firm changed hands amounting to turnover of Rs 1,154.11 crore on NSE.

 Market cap of the consumer goods firm climbed to Rs 15,067 crore.

Devyani International is the largest franchisee of Pizza Hut, KFC and Costa Coffee in India.

On last day, its share sale was subscribed 116.71 times, with quota reserved for qualified institutional buyers' (QIB) category fetching 95.27 times subscription, non-institutional investors 213.06 times and retail individual investors 39.51 times.

Lot size of the IPO was 165 shares. Allotment of shares was done on August 10.

 A day before the IPO opened, the firm raised Rs 825 crore from anchor investors.

The company allocated 9.16 crore equity shares to 41 anchor investors at Rs 90 apiece, aggregating to Rs 825 crore. 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.