Devyani International Rs 1,838-crore IPO to open on August 4; units value band at Rs 86-90/share

Devyani International, the most important franchisee of Pizza Hut, KFC and Costa Coffee in India, on Friday mounted a value band of Rs 86-90 a share for its Rs 1,838-crore preliminary share-sale.
The three-day preliminary public providing (IPO) will open for subscription on August 4, and conclude on August 6, the corporate introduced in a digital press convention.
The IPO consists of recent situation of fairness shares price Rs 440 crore and an offer-for-sale of as much as 155,333,330 fairness shares by promoter and current shareholder.
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 promote 9 crore shares.

The provide features a reservation of as much as 5.50 lakh fairness shares for the corporate’s staff.
Also, 75 per cent of the problem dimension has been reserved for certified institutional consumers (QIBs), 15 per cent for non-institutional consumers and the remaining 10 per cent for retail traders.
Investors can bid for minimal 165 fairness shares and in multiples of 165 fairness shares thereafter.
At the higher finish of the value band, the IPO is predicted to fetch Rs 1,838 crore.
Proceeds from the recent situation will likely be used to retire debt and common company functions.
Devyani International is an affiliate firm of RJ Corp, the most important bottling companion of meals and drinks (F&B) main Pepsico, and has pursuits within the Indian retail F&B sector.
The firm is the most important franchisee of Yum Brands, working core manufacturers akin to Pizza Hut, KFC, Costa Coffee apart from its personal manufacturers akin to Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar.
It at the moment operates 297 Pizza Hut shops, 264 KFC shops and 44 Costa Coffee as on March 2021 in India.

Devyani International is led by Ravi Kant Jaipuria, promoter of RJ Corp and Virag Joshi, President and CEO, who’ve been key strategists of the enlargement efforts by the corporate.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors are the e book working lead managers to the problem.