Stock

Deyvani International lists with over 56% gains

Our Burea Mumbai | Updated on August 16, 2021

IPO priced at ₹86-90 a share

Deyvani International made a strong debut in the bourses on Monday, listing with per cent gains.

It opened at ₹141 on the BSE, up 56.67 per cent or ₹51 against the issue price of ₹90.

After reaching a high of ₹141.05, it was trading at ₹133.80 with 48.67 per cent gains at 10.01 am.

On the NSE, it opened at ₹140.90. It was trading at 133.70, up 48.56 per cent.

The ₹1,838-crore public issue of Devyani International, the operator of KFC, Pizza Hut and Costa Coffee, which closed for subscription on August 6, was subscribed 116.70 times. Devyani International IPO came out with a price band of ₹86-90 a share. The IPO comprised a fresh issue of ₹440 crore and an offer for sale (OFS) of 15.53 crore shares by the investor and promoter. The portion reserved for retail investors was subscribed almost 39.48 times while HNIs and QIBs portions received bids for 213.06 times and 95.27 times. Even, employee portion got subscribed by 4.70 times.

Ahead of the issue, the company had raised ₹824.87 crore from anchor investors by allotting 9.16 crore shares at ₹90 a share.

Published on August 16, 2021

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