Devyani International has made a strong debut on the bourses. The shares of the fast-food chain operator opened higher by 56 per cent at Rs 141 on the BSE and Rs 140.90 on the NSE, as against issue price of Rs 90 per share. At 10:05 am, the shares of Devyani International were trading off the opening highs at Rs 130.85, higher by 45.83 per cent on the BSE and at Rs 131.75, up 46 per cent on the NSE.
The Rs 1,838-crore initial public offering (IPO), which was open between August 4 and August 6, was subscribed as much as 116.71 times. The qualified institutional buyers reserved portion was subscribed 95.27 times, non-institutional investors segment was subscribed 213.06 times and the portion reserved for retail investors attracted subscription of 39.52 times. (Check the allotment status here: https://www.ndtv.com/business/how-to-check-allotment-status-of-devyani-international-ipo-2507237)
The IPO comprised a fresh issue of Rs 440 crore and an offer for sale of Rs 1,398 crore by existing investors.
Incorporated in 1991, Devyani International is led by Ravi Kant Jaipuria, promoter of RJ Corp and Virag Joshi, President and CEO. It is the largest franchisee of Yum Brands in India and operates quick service restaurant (QSR) brands such as Pizza Hut and KFC. It runs 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee across India.
Devyani International’s listed peers include Jubilant FoodWorks, Westlife Development and Burger King India.
Meanwhile, Windlas Biotech, Exxaro Tiles and Krsnaa Diagnostics have also listed on the bourses today.