The largest franchisee of Yum Brands in India which operates brands such as Pizza Hut, KFC and Kosta Coffee, Devyani International Limited (DIL), is set to launch its Initial Public Offering (IPO) on August 4.
According to Moneycontrol, the IPO comprises a fresh issue of ₹440 crore and an offer for sale (OFS) of 15,53,33,330 equity shares by existing selling shareholders.
As per CNBCTV18.com, an IPO of ₹14,000 crore was approved by the equity marketers last week. However, the final size of the IPO might go up. After Burger King and Barbeque Nation, this is the third listing from the entire QSR industry.
In India, DIL is the largest quick service restaurant (QSR) company to be listed on the country’s most successful online food delivery platform Swiggy. It was also amongst the largest Indian QSR company to be listed on Zomato in the years 2019 and 2020.
During the COVID-19 pandemic, the company continued to put efforts in expanding its store network by opening 109 stores across its brand business in the past six months. As of March 2021, 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee shops are operated under DIL.
Furthermore, the firm manages and operates primarily KFC and Pizza Hut stores in countries like Nepal and Nigeria.
Kotak Mahindra Capital Ltd., CLSA India Private Ltd., Edelweiss Financial Services Ltd and Motilal Oswal Investment Advisors Ltd. are among the investment bankers appointed to the issue.
