Devyani International to launch IPO on Aug 4

The promoter and existing shareholders participating in the IPO include Dunearn Investment (Mauritius) and RJ Corp.
  • Nusra Deputy Features Editor
IPO

The largest franchisee of KFC, Pizza Hut and Costa Coffee in India Devyani International will Launch its IPO on August 4.

The company has filed its Red Herring Prospectus (RHP) with the capital markets regulator for its public issue that opens for subscription on Wednesday, 4 August 2021 till Friday, 6 August 2021.

The public issue comprises fresh issue of shares worth Rs 440 crore and offer-for-sale (OFS) of issuing up to 15.53 crore equity shares by existing shareholders and promoters.

The company is planning to raise Rs 1,400 crore from the IPO.

The promoter and existing shareholders participating in the IPO include Dunearn Investment (Mauritius) and RJ Corp.

Devyani has reserved up to 550,00 equity shares for the eligible shareholders of the company and 75 per cent of the net issue for qualified institutional buyers (QIBs) whereas 15 per cent shares are allocated to non-institutional bidders (NIIs). Retail investors will get the remaining 10 per cent allocation.

The brand has appointed Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Services NSE 4.97 % and Motilal Oswal Investment Advisors as the global co-ordinators and book running lead managers (BRLMs) of the issue.

Link Intime India has been appointed as the registrar for the issue and the shares will be listed on both BSE and NSE.

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