Devyani International was incorporated on December 13, 1991 ass ‘Universal Ice Creams Private Limited'. The business business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India; stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria; and certain other operations in the F&B industry, including stores of our own brands such as Vaango and Food Stree
| Bidding Dates |
|---|
| 04 Aug 2021 - 06 Aug 2021 |
| Subscription |
|---|
| 116.7x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,850 | 1 | 13 | 165 | 204.2 M | ₹86 - ₹90 | 83.02 % | ₹17563.1 M - ₹18380.0 M | RHP DOC |
Devyani Intl IPO SUBSCRIPTION STATUS
06 Aug '21Devyani Intl IPO overall subscription rate was 116.7 times the total available shares
Devyani Intl IPO retail subscription rate was 39.48 times in the retail segment
Devyani Intl IPO non-institutional investor subscription rate was 213.06 times in the non-institutional investor category
Devyani Intl IPO Qualified Institutional Bidder subscription rate was 95.27 times the available shares for Qualified Institutional Bidder
Devyani Intl IPO Employees subscription rate was 4.7 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
06 Aug 2021 (Day 3) | 39.48x | 213.06x | 95.27x | 4.7x |
05 Aug 2021 (Day 2) | 23.16x | 6.68x | 1.32x | 3.12x |
04 Aug 2021 (Day 1) | 11.37x | 0.77x | 0.77x | 1.56x |
Devyani Intl FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) | Margins |
| FY21 | -629.9 | 11,348.4 | 2,395.6 | 1,066.1 | 20.0% |
| FY20 | -1,214.2 | 15,163.9 | 3,007.2 | 2,019.0 | 16.9% |
| FY19 | -941.4 | 13,106.0 | 2,777.6 | 1,370.8 | 21.3% |
Devyani Intl IPO SUBSCRIPTION STATUS DETAILS
Devyani Intl had 204.2 M shares on offer
Devyani Intl IPO offer price was in the range ₹86 - ₹90
Devyani Intl IPO minimum Investment was ₹14850
Devyani Intl IPO issue size was ₹ 17563.1 M - ₹ 18380.0 M
Devyani Intl had a minimum lot size of 165 Shares per application
Devyani Intl NUMBER OF SHARES ON OFFER
Devyani Intl IPO IMPORTANT DATES
| Issue Open Date | 04 Aug 2021 |
| Issue close Date | 06 Aug 2021 |
| Allotment Date | 11 Aug 2021 |
| Refund Date | 12 Aug 2021 |
| Demat Account Credit Date | 13 Aug 2021 |
| Listing Date | 16 Aug 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Devyani Intl Allotment Status | Exchange |
Devyani Intl IPO subscription opened on 04 Aug 2021, and closed on 06 Aug 2021
IPO allotment for Devyani Intl was finalized on Wednesday, 11 Aug 2021
IPO listing for Devyani Intl was on NSE and BSE on Monday, 16 Aug 2021
Devyani Intl IPO LISTING GAINS
| Issue Price (adjusted) | 90.0 |
| Listing Open Price | 141.0 |
| Listing Close Price | 123.3 |
| Listing Gain% | 56.7% |
| Current Gain% | 49.7% |
Devyani Intl Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Devyani International Ltd. | 134.7 | 16201.6 | -600.3 | 4.3 | 2.8 | -2.5 | -0.6 | 5656.6 | 13.4 | -38.6 | -522.2 | -0.2 | -140.1 |
| Jubilant Foodworks Ltd. | 486.5 | 32101.5 | 74.9 | 0.7 | 3.4 | 18.7 | 4.5 | 9586.6 | 16.7 | 428.5 | 103.3 | 6.5 | 103.3 |
| Travel Food Services Ltd. | 1428.6 | 18811.7 | 42.7 | 2 | 11.4 | 30.6 | 19.3 | 1742.6 | -1.1 | 441 | 21.4 | 33.5 | 21.4 |
| Westlife Foodworld Ltd. | 594.8 | 9275.9 | 292.7 | 1.4 | 3.4 | 5.2 | 1.1 | 2657 | 5.6 | 32.3 | 166.2 | 2 | 213.2 |
| Sapphire Foods India Ltd. | 224.2 | 7206 | -403.3 | 1.3 | 2.2 | -2.3 | -1 | 3153.4 | 8 | -32 | -266 | -0.6 | -299.8 |
| Restaurant Brands Asia Ltd. | 94.9 | 6755.6 | -38.9 | -2.3 | 2.3 | -25.9 | -5.5 | 2871.3 | 11.2 | -187.1 | 13.5 | -2.4 | 16.9 |
Devyani Intl INFORMATION ON IPO ISSUE
About Devyani Intl
Devyani International was incorporated on December 13, 1991 ass ‘Universal Ice Creams Private Limited'. The business business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India; stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria; and certain other operations in the F&B industry, including stores of our own brands such as Vaango and Food Stree
Object of the Issue
1. Repayment and/or prepayment of company's borrowings fully or partially.
2. General corporate purposes.
Devyani Intl - PROMOTERS
| Name |
|---|
| Ravi Kant Jaipuria |
| Varun Jaipuria |
| RJ Corp Limited |
Devyani Intl Global Coordinators and Book Running Lead Managers
Kotak Mahindra Capital Company Limited
dil.ipo@kotak.com
CLSA India Private Limited
devyani.ipo@clsa.com
Edelweiss Financial Services Limited
dil.ipo@edelweissfin.com
Devyani Intl Book Running Lead Managers
Motilal Oswal Investment Advisors Limited
devyani.ipo@motilaloswal.com
Devyani Intl Registrar to the Offer
Link Intime India Private Limited
devyani.ipo@linkintime.co.in
Devyani Intl Strengths
Product portfolio
The product portfolio of well-recognized QSR brands
Largest franchisee
The company is the largest franchisee of Yum Brands in India
Cross brand synergies
Cross-brand synergies provide operating leverage benefits
Disciplined financial approach
Disciplined financial approach with a strong focus on cash flow management
Strong store network
Strong store network; 264 KFC Stores, 297 Pizza Hut stores, and 44 Costa coffee stores.
Devyani Intl Risks
Relies on agreements
The company relies on arrangements with Yum for KFC and Pizza Hut stores that comprise a significant majority of business
Incurred losses
The company has incurred losses in Fiscals 2019, 2020, and 2021, resulting in an erosion of the net worth
Dependent on Core brand
The business depends on the continued success and reputation of the Core Brands globally
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,398.0 crore, of 155,333,330 shares. It also consists of a fresh issue of Rs 440.0 crore.
The promoters of the company are Ravi Kant Jaipuria, Varun Jaipuria and RJ Corp Limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 86.0 - 90.0.
The IPO application opens on Aug 04, 2021 and closes on Aug 06, 2021.
The minimum lot size for the IPO is 165. The maximum lot size for the IPO is 2145.
For all category investors, the minimum application amount for this IPO is Rs. 14,850.0, the maximum value for this IPO is Rs 193,050.0.
This IPO will be allotted on Aug 11, 2021.
The refund will be credited to your account on Aug 12, 2021.
The allotted shares will be credited to your demat on Aug 13, 2021.
Devyani International Ltd.’s shares listed on the stock exchanges on Aug 16, 2021.