Devyani International Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹90
Per ShareLot Size
165 Shares
Minimum Investment
₹14,850
Issue Size
₹1,775.87 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Devyani International Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
75.79%
Issue Type
Book Building
ISIN
INE872J01023
About the Company
Devyani International Limited is in the business of operating chain QSRs in India. Its business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India (KFC, Pizza Hut and Costa Coffee referred to as "Core Brands", and such business in India referred to as the "Core Brands Business"); stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria ("International Business"); and certain other operations in the F&B industry, including stores of its own brands such as Vaango and Food Street ("Other Business").
Industry Overview
The Indian food services sector generated a total revenue of Rs. 8,366.6 billion (US$117.5 billion) in 2020, growing at a CAGR of 1.9% from Rs. 7,601.4 billion (US$118.5 billion) in 2015. Growth was mainly driven by the rise in the number of transactions, which grew at a CAGR of 2.4%, during the same period. Increased deliveries, a higher demand for eating out, urbanization, and an increased exposure to different food types have played a significant role in the growth of transactions, especially in 2020, due to COVID-19.
Company History
Devyani International Limited was originally incorporated as`Universal Ice Creams Private Limited' at New Delhi as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated December 13, 1991 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi ("RoC"). Subsequently, the name of the Company was changed to `Devyani International Private Limited' and a fresh certificate of incorporation dated June 7, 2000, was issued by the RoC. Thereafter, the company was converted into a public limited company and consequently the name of the Company was changed to `Devyani International Limited' and a fresh certificate of incorporation dated May 9, 2005 was issued by the RoC.
Products & Services
- In the business of operating chain QSRs in India. The business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India
Growth Strategy
- Strategically expand store network of its Core Brands Business
- Continue to improve unit-level performance
- Focus on delivery channel for Core Brands
- Invest in technology and focus on its digital capabilities
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial Public Offer of 204,222,218* Equity shares of face value of Re.1 each ("equity shares") of Devyani International Limited ("company" or "issuer") for cash at a price of Rs. 90 per equity share (including a share premium of Rs. 89 per equity share) aggregating up to Rs.1838 Crores comprising a fresh issue of 48,888,888* equity shares aggregating up to Rs. 440 Crores (the "fresh issue") and an offer for sale of 155,333,330* equity shares aggregating up to Rs.1398 Crores, comprising 65,333,330* equity shares aggregating up to Rs. 588 Crores by Dunearn Investments (Mauritius) Pte. Ltd. ("dunearn" or "investor sellling shareholder) (such equity shares offered by dunearn, "dunearn offered shares") and 90,000,000* equity shares aggregating up to Rs. 810 Crores by RJ Corp limited ("rj corp" or "promoter selling shareholder", together with the investor selling shareholder, the "selling shareholders") (such equity shares offered by rj corp, the "rj corp offered shares", together with dunearn offered shares, "offered shares") (such offer by the selling shareholders, the "offer for sale" and together with the fresh issue, "the offer"). The offer includes a reservation of 550,000* equity shares, aggregating up to Rs. 4.95 Crores constituting 0.04% of the post-offer paid-up equity share Capital), for subscription by eligible employees (the "employee reservation portion"). The offer less the employee reservation portion is Hereinafter referred to as "net offer". The offer and net offer shall constitute 16.98% and 16.94%, respectively, of the post-offer paid-up equity Share capital of the company. The face value of equity shares is Re.1 each. The offer price is 90 times the face value of the equity shares. * subject to finalisation of the basis of allotment.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Portfolio of highly recognized global brands catering to a range of customer preferences;
- Multi-dimensional comprehensive QSR player;
- Presence across key consumption markets with a cluster-based approach;
- Cross brand synergies with operating leverage;
- Disciplined financial approach with focus on cash flows and returns;
- The current and continuing impact of the ongoing COVID-19 pandemic on its business and operations has been significant. The impact of the pandemic on its operations in the future, including its effect on the ability or desire of customers to dine in stores, is uncertain and may be significant and continue to have an adverse effect on our business prospects, strategies, business, operations, its future financial performance, and the price of the company Equity Shares.
- The company rely on its arrangements with Yum for the KFC and Pizza Hut stores that comprise a significant majority of the business, and a termination of or inability to renew these arrangements, will have a material adverse effect on its business, results of operations and financial condition.
- The company is rely on the Costa IDA with Costa for the Costa Coffee stores and a termination of or material modification to the existing terms of the Costa IDA will materially and adversely affect its ability to continue its Costa business and operations and the future financial performance.
- The compay are exposed to all of the risks associated with leasing real estate, and any adverse developments could materially affect its business, results of operations and financial condition.
- The operation of stores/ outlets under its Core Brands ("KFC", "Pizza Hut" and "Costa Coffee") depend on their respective material agreements, which impose certain restrictions, limitations and other obligations on its operations that could adversely affect its ability to grow the business.