InvestorQ : Can you tell me about the forthcoming IPO of Devyani International (Pizza Hut)?
Anamika Sodhani made post

Can you tell me about the forthcoming IPO of Devyani International (Pizza Hut)?

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Angel dcosta answered.
5 months ago
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Devyani International is the Indian franchisee for KFC, Pizza Hut and Costa Coffee. Its IPO, which is slated to open on 04 August and close on 06 August next week, is eyeing valuations of close to Rs.11,000 crore. The company has set a price band of Rs.86-90 per share for the IPO. Devyani International will issue fresh equity shares to the tune of Rs.440 crore as part of the IPO. Devyani has debt of Rs.500 crore and will use the IPO proceeds to defray debt.

In addition, the promoters will also paring their holdings via OFS to the tune of nearly Rs.1,400 crore. Post the OFS, the holdings of the promoters in Devyani will decline from 75.8% to 68%.Devyani is among the largest QSR chains in India and also owns the Yum brands of restaurants. Devyani operates a total of 696 stores across 166 cities. It also operates KFC and Pizza Hut stores in Nepal and Nigeria. It is a loss making company.

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