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Devyani International Limited IPO Detail

Devyani International Limited IPO Detail

Incorporated in 1991, Devyani International Ltd is the largest franchisee of Yum Brands and among the largest quick-service restaurants (QSR) chain operators in India with 655 stores across 155 cities all over the country as of Mar 31, 2021. Yum Brands Inc operates many fast food brands i.e. Pizza Hut, KFC, and Taco Bell brands.

It operates 3 business verticals; 1. Core Brands (KFC, Pizza Hut, and Costa Coffee stores in India), 2. International Business (stores in foreign countries i.e. Nepal and Nigeria), and 3. Other Businesses (own branded stores i.e. Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar).Initially, the business started with a Pizza Hut store in Jaipur but subsequently expanded operations in both KFC and Pizza hut, as of March 31, 2021, it operates 264 KFC stores, 297 Pizza Hut stores, and 44 Costa Coffee stores in India.

Competitive strengths

  • The product portfolio of well-recognized QSR brands.
  • Largest franchisee of Yum Brands in India.
  • Cross brand synergies provide operating leverage benefits.
  • Disciplined financial approach with a strong focus on cash flow management.
  • Strong store network; 264 KFC Stores, 297 Pizza Hut stores, and 44 Costa coffee stores.

Company Promoters

Ravi Kant Jaipuria, Varun Jaipuria, and RJ Corp Limited

IPO Details

IPO Opening DateAug 04, 2021
IPO Closing DateAug 06, 2021
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹86 - 90 per equity share
Market Lot165 Shares
Min Order Quantity165 Shares
Listing AtBSE, NSE
Issue Size₹1,838 Cr
Fresh Issue[.] Eq Shares of ₹1 (aggregating up to ₹440.00 Cr)
Offer for Sale155,333,330 Eq Shares of ₹1 (aggregating up to ₹[.] Cr)
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.77x 0.77x 11.35x 1.56x - 2.69x
Day 2 1.32x 6.37x 22.94x 3.10x - 6.61x
Day 3 95.27x 213.06x 39.48x 4.70x - 116.70x

IPO Tentative Timetable

The Devyani International Limited IPO open date is Aug 04, 2021, and the close date is Aug 06, 2021. The issue may list on Aug 16, 2021.

IPO Open DateAug 04, 2021
IPO Close DateAug 06, 2021
Basis of Allotment DateAug 11, 2021
Initiation of RefundsAug 12, 2021
Credit of Shares to Demat AccountAug 13, 2021
IPO Listing DateAug 16, 2021

IPO Lot Size

The Devyani International Limited IPO market lot size is 165 shares. A retail-individual investor can apply for up to 13 lots (2145 shares or ₹193050).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding75.79%
Post Issue Share Holding67.99%

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 1,668.47 1,198.90 81.32
31-Mar-20 1,883.57 1,535.04 78.75
31-Mar-19 1,807.50 1,323.68 59.30

Objects of the Issue:

  • Repayment and/or prepayment of company's borrowings fully or partially.
  • General corporate purposes.