InvestorQ : How was the listing of Devyani International on 16 August?
Dilmini Mercia made post

How was the listing of Devyani International on 16 August?

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Dawn Cherian answered.
4 months ago
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Of the four IPOs that listed on 16 August, the only IPO to delivery good returns over the IPO price was Devyani International. Incidentally, this company is the franchisee for Pizza Hut, KFC and Costa Coffee and is predominantly in the QSR business. The stock was listed at a premium of 57% at Rs.141 on 16-Aug, as against the IPO issue price of Rs.90. However, the opening price virtually proved to be the top for the day as it failed to hold higher levels.

Devyani did close above the issue price on Monday but the gains were just about 37% against initial listing gains of around 57%. The IPO of Devyani International had been subscribed 116.7 times. Devyani is now poised to grow in line with a sharp demand for food delivery and it has tweaked its business model accordingly. In the last one year, Devyani has deliberately its dine-out model and focused more on home delivery model.

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