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Devyani International’s IPO All Set To Open On August 4, 2021: Find Out Details Here

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Devyani International's IPO All Set To Open On August 4, 2021

Devyani International’s IPO is all set to roll out on August 4, 2021

Devyani International, one of the largest quick service restaurants chain operators in the country, is all set to unveil its initial public offer (IPO) on August 4, 2021. The IPO size is around Rs 1,838 crore which consists of a fresh issue worth Rs 440 crore and an offer for sale (OFS) worth Rs 1,389 crore with 155,333,330 equity shares.

The IPO will close on August 6. It has a price band of Rs 86 to Rs 90 per equity share. The issue has a minimum lot size of 165 shares with an application cut-off of Rs 14,850. The upper limit of the lot stands at 2,145 shares with Rs 193,050 as the application cut-off amount.

Devyani International was incorporated in 1991 and runs stores of several well known food and beverage brands like Pizza Hut, KFC and Taco Bell. It is an associate company of RJ Corp, the largest bottling partner of Pepsico.

Under the offer-for-sale, Dunearn Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Temasek Holdings, will offload 6,53,33,330 shares and promoter RJ Corp will sell nine crore shares.

Devyani International is led by Ravi Kant Jaipuria, promoter of RJ Corp and Virag Joshi, President and CEO, who have been key strategists of the expansion efforts by the company.

The book running lead managers for the issue are Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors.

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