- August 7, 2021 / 4 min readAn associate of RJ Corp, the largest bottling partner of PepsiCo, it has interests in the Indian retail F&B sector.
Devyani International that went public on 4th August and whose shares were up for sale till 6th August was subscribed a whopping 116.71 times on the closing day of subscription on Friday.
The largest franchisee of Pizza Hut, KFC, and Costa Coffee in India, Devyani’s Rs 1,838-crore IPO received bids for 13,13,77,91,700 shares against 11,25,69,719 shares on offer, as per NSE records.
The qualified institutional buyers' (QIB) category was subscribed 95.27 times, non-institutional investors' 213.06 times and retail individual investors' segment 39.51 times.
The initial public offer (IPO) had a fresh issue of up to Rs 440 crore and an offer for sale of up to 15,53,33,330 equity shares. Devyani set a price range of Rs 86-90 per share.
It also announced on Wednesday that it has mobilised Rs 825 crore from anchor investors.
The three-day initial share sale opened for subscription on Wednesday and was fully subscribed on the first day itself.
An associate of RJ Corp, the largest bottling partner of PepsiCo, it has interests in the Indian retail F&B sector.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services and Motilal Oswal Investment Advisors were the managers to the offer.
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