Mr. Ravi Kant Jaipuria Chairman of Devyani International Limited along with Varun Jaipuria and Devyani Jaipuria performing the bell-ringing IPO listing ceremony at NSE

Mr. Ravi Kant Jaipuria Chairman of Devyani International Limited along with Varun Jaipuria and Devyani Jaipuria performing the bell-ringing IPO listing ceremony at NSE

Devyani International Limited makes a strong debut on the bourses

Mumbai, August 16, 2021: Devyani International Limited (the “Company”), the largest franchisee of Yum Brands in India, listed on the NSE at Rs. 140.90 and on BSE at Rs. 141.00 per share, approx. 56%  higher than its issue price of Rs. 90/-. Among the four scrips listed today, it was the best performing.

The shares of the company at day end closed at Rs. 123.35 per share on BSE and Rs. 122.60 per share on NSE.

This is the largest IPO by a QSR Company in India and is the second-highest subscribed IPO this year. The Public Offer has raised approx. 1,18,000 Cr demand from the investors – again a record performance.

On the occasion, Mr. Ravi Kant Jaipuria, Chairman- Devyani International Limited said “We have embarked upon a new phase of our journey, today. I am very happy to share that we have successfully completed the initial public offering of Devyani International Limited that witnessed a strong reception from the investor community. This brings on board marquee investors across the spectrum of FIIs, domestic mutual funds, and insurance companies. I would like to take this opportunity to welcome our new shareholders and thank all of them and our bankers, advisors, business partners , and employees for their whole-hearted support to our IPO. We are very excited as we list Devyani International as a public entity on the Indian stock exchanges. This will augment our shareholder base, improve stakeholder value and expand our financial flexibility to address medium-to-long-term growth prospects.”

The Market Capitalization of the Company post today’s closing stood approx. at Rs. 14,833 crore at BSE.

The initial Public Offering of the company was Rs 1838 cr and the issue was closed on 6th August 2021. The portion reserved for retail investors was subscribed 39.51 times. While the Qualified Institutional Buyer category was subscribed 95.27 times, the Non-Institutional Investor category was subscribed 213.06 times and Employee Reserved category was subscribed 4.70 times.

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