Devyani International, the largest franchisee of Pizza Hut, KFC, and Costa Coffee in India, raised Rs 1,400 crore through an initial share sale by capital market regulator Sebi Passed the initial letter. The Initial Public Offering (IPO) consists of an offer to sell 1,400 crores of new equity shares and 125,333,330 equity shares of the promoter and existing shareholders.
The company said that under the sale offer, Dunnar Investments (Mauritius) Private Limited will sell 65,333,330 shares, while the promoter RJ Corp will sell 60 million shares. DunArn is a wholly-owned subsidiary of Temasek Holdings.
Use of funds raised from IPO
According to business banking sources, it is expected to raise Rs 1,400 crore from the IPO. The proceeds from the sale of new shares will be used to repay the loan and for general corporate purposes.
109 Stores Opened Across the Country During the Corona Era
Despite the Corona crisis, the company has opened 109 stores across the country in the last 6 months. KFC and Pizza Hut were among those who started contactless deliveries in May 2020 and June 2020.
Apart from this, the company has its own brands including Vango, Food Street, Masala Twist, Amreli Ile Bar, and Ckrussh Juice Bar, etc.
It has 692 stores across the country. The company also has stores in Nepal and Nigeria. Devyani is India’s largest QSR company to be listed on Swiggy and one of India’s largest QSR companies to be listed on the Zomato platform in 2019 and 2020.
These are the managers of IPO
Devyani International has appointed Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited, CLSA India Limited, and Motilal Oswal Investment Advisors Limited as its investment bankers.