Latest News | Day-2: Devyani International IPO Subscribed 6.61 Times
Get latest articles and stories on Latest News at LatestLY. The initial public offer of Devyani International, the largest franchisee of Pizza Hut, KFC, and Costa Coffee in India, got subscribed 6.61 times on Thursday, the second day of subscription.
New Delhi, Aug 5 (PTI) The initial public offer of Devyani International, the largest franchisee of Pizza Hut, KFC, and Costa Coffee in India, got subscribed 6.61 times on Thursday, the second day of subscription.
The company's initial public offer (IPO) comprises a fresh issue of up to Rs 440 crore and an offer for sale of up to 15,53,33,330 equity shares.
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On Thursday, the Rs 1,838-crore IPO received bids for 74,40,74,100 shares against 11,25,69,719 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers(QIBs) was subscribed 1.32 times, non-institutional investors 6.37 times, and Retail Individual Investors(RIIs) 22.94 times.
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The IPO is in a price range of Rs 86-90 per share.
Devyani International on Wednesday said it has mobilised Rs 825 crore from anchor investors.
The three-day initial share sale opened for subscription on Wednesday and was fully subscribed on the first day itself.
Proceeds from the fresh issue will be used to retire debt and general corporate purposes.
Devyani International is an associate company of RJ Corp, the largest bottling partner of food and beverages (F&B) major PepsiCo, and has interests in the Indian retail F&B sector.
The company is the largest franchisee of Yum Brands, operating core brands such as Pizza Hut, KFC, Costa Coffee besides its own brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar.
It currently operates 297 Pizza Hut stores, 264 KFC stores, and 44 Costa Coffee as of March 2021 in India.
The offer is being managed by Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)