Devyani International IPO allotment status: The initial public offering (IPO) of Devyani International, the largest franchisee of fast food majors Pizza Hut, KFC and Costa Coffee in India, was subscribed a whopping 116.71 times over the 11.25 crore shares that were on offer during the subscription period from August 4-6, 2021. The price band was fixed at Rs 86-90 per share.
Devyani International IPO received bids of over 1,313.79 crore (13,13,79,21,555) shares against the total issue size of over 11.25 crore (11,25,69,719) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 95.27 times, while those of non institutional investors was subscribed 213.06 times and that of retail individual investors (RIIs) was subscribed 39.52 times. Separately, shares for the employees’ segment was subscribed 4.70 times, the data showed.
The IPO of the quick service restaurants (QSR) operator has a size of Rs 1,838 crore. It comprised a fresh issue of equity shares worth Rs 440 crore and an offer-for-sale (OFS) of up to 155,333,330 equity shares worth Rs 1,398 crore by the promoter and existing shareholder.
The proceeds from the fresh issue would be used to retire debt and general corporate purposes.
Investors are now looking forward to the share allotment date of the Devyani International IPO. The QSR major is suppose to finalise the allotment by Wednesday, August 11, 2021, as per the timeline provided in the red herring prospectus (RHP). In case you have applied for the Devyani International IPO, then here is how you can check the status of your allotment when it gets declared:
The listing of shares of Devyani International is likely to take place on Monday, August 16, 2021, on both the NSE and BSE.
Kotak Mahindra Capital Company, CLSA India and Edelweiss Financial Services are the global coordinators and book running lead managers, while Motilal Oswal Investment Advisors is the book running lead manager to the IPO.