Devyani International IPO: Devyani International, the largest franchise company of Pizza hut, KFC and Costa coffee in the country, was subscribed 116.71 times on the last day of IPO subscription. The IPO was open for subscription on August 4 and was fully subscribed on the very first day.
Under this IPO of Devyani International, 13,13,77,91,700 bids were received for 11,25,69,719 shares. The share reserved for QBIs of the IPO was subscribed 95.27 times while the reserve share of non-institutional investors was subscribed 213.06 times. The retail segment was subscribed 39.51 times. 440 crore new shares were issued under the IPO while 15,53,33,330 equity shares were issued under the offer for sale. The price band of the IPO was Rs 86-90. Devyani International said on Wednesday that it had already raised Rs 825 crore from anchor investors before the IPO.
The company will repay the debt with the capital raised from the IPO
Devyani International will use the capital raised under this IPO of Rs 1838 to pay off debt and spend other works. This company is RJ Corp. is an associate company of. RJ Corp. The food and beverage company is PepsiCo’s largest bottling partner. It has interests in retail and food and beverage. The company is the largest franchisee of the YUM brand. Apart from this, it is also one of the largest companies running the country’s largest quick service restaurant chain which runs brands like KFC, Pizza Hut and Taco Bell. Before the IPO, the company had raised Rs 825 crore from anchor investors.
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Devyani International’s restaurants in over 150 countries
Devyani International has restaurants in more than 150 countries. According to analysts at Marwari Financial Services, the company is going to be listed with an EV (Enterprise Value) / EBITDA of 62.39 crores and a market cap of 10.8 thousand crores on the basis of adjusted EBITDA of Rs 1789.23 crores for FY 2021 before the IPO comes. Its pierce company Jubilant Food is trading at an EV/EBITDA of 66.02 and Westlife Development 206.11.