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IPO Devyani International Limited | Largest KFC Pizza Hut, Costa Coffee Store Operator Files IPO

 

Devyani International IPO


Devyani International Limited is a New Delhi based company and is the largest franchisee of Costa Coffee, KFC, and Pizza Hut. The company Has filed a draft red herring prospectus with the market regulator SEBI and intends to raise funds through IPO.

As per the DRHP (Draft Red Herring Prospectus ) filed by the company, the offer comprises a fresh issue of Rs. 400 crores and an Offer of sale OFS of up to 12.53 crores equity shares by selling shareholders. The shareholders selling stake through OFS are Dunearn Investments (Mauritius) Pte. Ltd., a wholly-owned subsidiary of Teasamek Holding, and Promoter RJ corp as per the DRHP.

The price band for the issue is not decided and will be decided through a book building offer. The global coordinator and lead bank managers for the issue are Kotak Mahindra Capital Company Limited, CLSA India Pvt. Ltd., Edelweiss Financial Services Limited, Motilal Oswal Investment Advisors Limited. The Registrar to the Offer is Link Intime India Private Ltd.

The firm plans to pay off its debt and the company’s borrowing worth Rs. 357.8 crores through this IPO. Devyani International is among the largest QSR (Quick Service Restaurant) in our country to be listed in zomato in the years 2019 and 2020. It is the single largest QSR company to be listed in Swiggy. With hitting our country, KFC and Pizza Hut among the ones which were providing contactless deliveries.

Devyani International is also the largest franchisee of Yum Brands in India. It started a relationship with Yum in 1997 when they commenced the operation of their first Pizza Hut Store in New Delhi. The company is operating through 655 stores which include 264 KFC stores and 297 Pizza Hut stores, 44 Costa Coffee Stores across 155 cities in India as of 31st March 2021.

We will update this post as and when issue price, bid range, listing dates are disclosed. Keep returning here for all the latest information.

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