Devyani International Limited Issue subscribed 2.69 times, Retail portion booked 11.36 times on day 1

 Devyani International Limited Issue subscribed 2.69 times, Retail portion booked 11.36 times on day 1

 

Mumbai, August 04, 2021: Devyani International Limited (the “Company”), the largest franchisee of Yum Brands in India, and among the largest operators of chain quick service restaurants (“QSR”) in India (Source: Global Data Report), on a non-exclusive basis, operates Pizza Hut, KFC, and Costa Coffee stores, as well as stores of other brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar received bids of 30,24,90,375 shares against the offered 11,05,80714 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for retail investors was subscribed 11.36 times. While the Qualified Institutional Buyer category was subscribed 0.77 times, the Non-Institutional Investor category was subscribed 0.77 times and Employee Reserved category was subscribed 1.56 times.

The Initial Public Offering of comprises of a fresh issuance of Equity Shares aggregating to Rs. 440 cr by the Company (“Fresh Issue”) and an offer for sale of up to 155,333,330 Equity Shares by the selling shareholders and promotors. The Price Band for the Offer has been fixed at Rs. 86 – Rs. 90 per Equity Share. The Bid/Offer period will close on Friday, August 6, 2021.

The Company raised Rs. 825 crore through the Anchor Book. 28 Foreign Portfolio Investors such as Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Monetary Authority of Singapore, Abu Dhabi Investment Council, Government of Singapore, Jupiter Asset Management, Nomura, NS Partners, Neuberger Berman, APG Asset Management, Carmignac, White Oak, Affin Hwang, Alliance Bernstein, Kuwait Investment Authority, Macquarie and 13 domestic investors such as Aditya Birla MF, ICICI Prudential MF, Mirae Asset MF, Nippon Life MF, Tata Mutual Fund MF, Sundaram Mutual Fund, Aditya Birla Sunlife, HDFC Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, Bajaj Allianz, Max Life Insurance Co and SBI General Insurance were the participants.

Kotak Mahindra Capital Company Ltd, CLSA India Pvt Ltd, Edelweiss Financial Services Ltd, Motilal Oswal Investment Advisors Ltd are appointed as the lead managers to the Offer.