Devyani International Limited IPO Details and 6.73 times Subscription on Day-2 and It's GMP

Devyani International Limited IPO

Devyani International shares are available at a Grey market premium (GMP) of ₹63 on day -2 of its subscription which is around 70% higher side

The details of the Devyani International Limited IPO is tabulated below

Tentative important dated of Devyani International IPO

Basic Details Of Devyani International Limited

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)
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.

Financial Details Of the Company

Purpose of this IPO

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

Devyani International IPO Subscription Status

The Devyani International IPO is subscribed 6.73 times on 4th Aug 2021

1. Qualified Institutional Buyers (QIB)  -  1.32 times Subscribed
2. Retail Individual Investors (RII)         -  23.16 times Subscribed
3. Non Institutional investors (NII)         -  6.68 times Subscribed
4. Employee Reservation                         -  3.12 times Subscribed

Disclaimer : This article is for educational purpose only and does not provide any buy or sell recommendation.