Bookbuilding IPO | ₹1,838 Cr | Listed at BSE, NSE | Wed, Aug 4, 2021 - Fri, Aug 6, 2021
Devyani International IPO is a book build issue of ₹1,838.00 crores. The issue is a combination of fresh issue of 4.89 crore shares aggregating to ₹440.00 crores and offer for sale of 15.53 crore shares aggregating to ₹1,398.00 crores.
Devyani International IPO bidding started from Aug 4, 2021 and ended on Aug 6, 2021. The allotment for Devyani International IPO was finalized on Aug 11, 2021. The shares got listed on BSE, NSE on Aug 16, 2021.
Devyani International IPO price band is set at ₹90 per share. The lot size for an application is 165. The minimum amount of investment required by an retail is ₹14,850 (165 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,310 shares), amounting to ₹2,07,900, and for bNII, it is 68 lots (11,220 shares), amounting to ₹10,09,800.
The issue includes a reservation of up to 5,50,000 shares for employees offered at a discount of ₹0.00 to the issue price.
CLSA India Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Devyani International IPO RHP for detailed Information.
IPO Open
Wed, Aug 4, 2021
IPO Close
Fri, Aug 6, 2021
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹10,822.71 Cr
| IPO Date | 4 to 6 Aug, 2021 |
| Listed on | Mon, Aug 16, 2021 |
| Face Value | ₹1 per share |
| Price Band | ₹86 to ₹90 |
| Issue Price | ₹90 per share |
| Lot Size | 165 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 20,42,22,218 shares (agg. up to ₹1,838 Cr) |
| Fresh Issue | 4,88,88,888 shares (agg. up to ₹440 Cr) |
| Offer for Sale | 15,53,33,330 shares of ₹1 (agg. up to ₹1,398 Cr) |
| Share Holding Pre Issue | 1,15,36,34,990 shares |
| Share Holding Post Issue | 1,20,25,23,878 shares |
| BSE Script Code / NSE Symbol | 543330 / DEVYANI |
| ISIN | INE872J01023 |
Devyani International IPO comprises a total issue size of 20,42,22,218 shares. The net offer to the public is 20,36,72,218 shares, after excluding 5,50,000 shares under a preferential allotment. Of the Net offer 15,27,54,165 (75.00%) are allocated to QIB, 3,05,50,832 (15.00%) allocated to NII 2,03,67,221 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 15,27,54,165 | 75.00% | 74.80% | NA |
| − Anchor Investor Shares Offered | 9,16,52,499 | 44.88% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 6,11,01,666 | 29.92% | NA | |
| NII (HNI) Shares Offered | 3,05,50,832 | 15.00% | 14.96% | NA |
| Retail Shares Offered | 2,03,67,221 | 10.00% | 9.97% | 1,23,437 |
| Preferential Reservations | ||||
| Employee Shares Offered | 5,50,000 | 0.27% | NA | |
| Total Shares Offered | 20,42,22,218 | 100.00% | 100.00% | |
Investors can bid for a minimum of 165 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 165 | ₹14,850 |
| Retail (Max) | 13 | 2,145 | ₹1,93,050 |
| S-HNI (Min) | 14 | 2,310 | ₹2,07,900 |
| S-HNI (Max) | 67 | 11,055 | ₹9,94,950 |
| B-HNI (Min) | 68 | 11,220 | ₹10,09,800 |
Devyani International IPO raises ₹824.87 crore from anchor investors. Devyani International IPO Anchor bid date is August 3, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Aug 3, 2021 |
| Shares Offered | 9,16,52,499 |
| Anchor Portion (₹ Cr.) | 824.87 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Sep 10, 2021 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Nov 9, 2021 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment of all or certain of the borrowings | 324.00 |
| 2 | General corporate purposes | 100.82 |
The Devyani International IPO is subscribed 116.7 times on August 6, 2021 6:50:00 PM (Day 3). The public issue subscribed 39.48 times in the retail category, 95.27 times in the QIB category, and 213.06 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 95.27 | 6,11,01,666 | 5,82,13,49,490 |
| NII | 213.06 | 3,05,50,832 | 6,50,90,55,465 |
| Retail | 39.48 | 2,03,67,221 | 80,41,52,745 |
| Employee | 4.7 | 5,50,000 | 25,83,240 |
| Total | 116.7 | 11,25,69,719 | 13,13,71,40,940 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Managers’ fees (including brokerage and selling commission) | 34.30 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 9.35 |
| 3 | Fees payable to the Registrar to the Offer | 0.50 |
| 4 | Fees payable to the other advisors to the Offer | 1.77 |
| 5 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 5.33 |
| 6 | Advertising and marketing expenses, Printing and stationery | 3.82 |
| 7 | Fee payable to legal counsels | 3.65 |
| 8 | Miscellaneous | 5.38 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹90.00 | ₹90.00 |
| Open | ₹141.00 | ₹140.90 |
| Low | ₹120.75 | ₹120.80 |
| High | ₹141.05 | ₹140.90 |
| Last Trade | ₹123.35 | ₹123.50 |
Lead Manager Reports
Devyani International IPO is a main-board IPO of 20,42,22,218 equity shares of the face value of ₹1 aggregating up to ₹1,838 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 165.
The IPO opens on Wed, Aug 4, 2021, and closes on Fri, Aug 6, 2021.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Devyani International IPO using UPI as a payment gateway. Zerodha customers can apply in Devyani International IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Devyani International IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Devyani International IPO opens on Wed, Aug 4, 2021 and closes on Fri, Aug 6, 2021.
Devyani International IPO lot size is 165, and the minimum amount required for application is ₹14,850.
You can apply in Devyani International IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Devyani International IPO will be done on Wednesday, August 11, 2021, and the allotted shares will be credited to your demat account by Fri, Aug 13, 2021. Check the Devyani International IPO allotment status.
The Devyani International IPO listing date is on Mon, Aug 16, 2021.
