Devyani International Ltd. IPO
Devyani International Ltd.
IPO Listing Details
Listed On
BSE & NSE
Listed On
Issue Price
₹90
Issue Price
Listing Price
₹141
Listing Price
Listing Gains
+₹51.00 (+56.67%)
Listing Gains
IPO Details
Bidding Dates
04 Aug - 06 Aug '21
Bidding Dates
Min. Investment
₹14,190
Min. Investment
Lot Size
165.00
Lot Size
Price Range
₹86 - ₹90
Price Range
Issue Size
1,756 Cr
Issue Size
Subscription Rate
- Retail Individual Investor39.31x
- Non-Institutional Investor213.06x
- Qualified Institutional Buyers95.27x
- Employees4.70x
About Company
The Devyani International IPO, with an issue size of Rs 1838 crore, was open for subscription from Aug 4-6, 2021. This was a book-built issue, which consisted of a fresh issue as well as an offer for sale (OFS) in the price band of Rs 86-90. The fresh issue had a size of Rs 440 crore, while the OFS clocked in at Rs 1,398 crore with 155,333,330 equity shares with a Rs 1 face value per share.
Devyani International Ltd is the biggest franchisee of Yum Brands. Considered as one of the largest quick-service restaurants (QSR) chain operators in India, Devyani International has 655 stores across 155 cities all over the country as of March 31, 2021. Yum Brands Inc operates three business verticals. These include core brands like KFC, Pizza Hut, and Costa Coffee stores in India. It also operates international stores in countries like Nepal and Nigeria. Among other businesses, it runs its own brands like Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar. It is also an affiliate of RJ Corp, Pepsico's largest bottling partner.
Devyani International Ltd. IPO Latest News and Subscription Status Today (Live)
Devyani International IPO was well-received by the bidders. The Devyani IPO subscribed 116.70 times where the retail category signed up 39.48 times, QIBs subscribed 95.27 times, and the NII categories attracted a subscription of 213.06 times.
Why should you invest in Devyani International Ltd. IPO?
At the upper end of the issue price band, the post-issue FY21 EV/sales work out to 9.9 times, which is comparatively low with regard to its peers Jubilant Foodworks' 15.4 times, Burger King India's 14.8 times and Westlife Development's 10 times. With a product portfolio of well-recognised QSR brands that cater to a range of customer preferences, the company drives cost efficiency at every level. It is present in key consumption markets like Delhi NCR, Mumbai, Bengaluru, Kolkata and Hyderabad.
Devyani International Ltd. IPO - SWOT Analysis
Devyani International holds a portfolio of globally recognised QSR brands. The cross-brand synergies provide operating leverage benefits. The company follows a disciplined financial approach with a key focus on cash flow management.
However, the company has incurred losses for the last three years. Devyani International is dependent on Yum Foods for its KFC and Pizza Hut stores and on Costa for its Costa Coffee stores. If these arrangements are not renewed on a long term basis, it could have a negative impact on the business. Inadequate or late supply of quality ingredients, packaging etc. could have an adverse impact on the business.
A competitive analysis
Sapphire Foods operates 437 restaurants under the brands such as KFC, Pizza Hut and Taco Bell in India, Sri Lanka and the Maldives as of March 2021. It is an omnichannel restaurant operator backed by marquee investors like Samara Capital, Goldman Sachs, CX Partners, Creador and Edelweiss. Devyani International Ltd, on the other hand, is the largest franchisee of Yum Brands, with 655 stores across 155 cities all over the country as of March 31, 2021. Sapphire Foods plans to mobilise about Rs 1150 crore through its IPO that may bump up its valuation to compete with rival Pizza Hut and KFC franchise operator Devyani International.
How to apply for Devyani International Ltd. IPO?
You can apply for the Devyani International Ltd. IPO in these ways:
UPI
Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.
Demat Account
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