Pizza Hut outlet in Saket. (Explicit photo by Oinam Anand)
Devyani World, the excellent franchisee of Pizza Hut, KFC and Costa Coffee in India, on Friday fastened a discover band of Rs 86-90 a portion for its Rs 1,838-crore preliminary portion-sale.
The three-day preliminary public offering (IPO) will launch for subscription on August 4, and produce on August 6, the firm launched in a digital press conference.
The IPO contains new scenario of fairness shares price Rs 440 crore and a proposal-for-sale of up to 155,333,330 fairness shares by promoter and existing shareholder.
Under the offer-for-sale, Dunearn Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Temasek Holdings, will offload 6,53,33,330 shares and promoter RJ Corp will promote 9 crore shares.
The offer involves a reservation of up to 5.50 lakh fairness shares for the firm’s employees.
Additionally, 75 per cent of the scenario dimension has been reserved for qualified institutional investors (QIBs), 15 per cent for non-institutional investors and the highest 10 per cent for retail merchants.
Merchants can expose for minimal 165 fairness shares and in multiples of 165 fairness shares thereafter.
At the upper cease of the discover band, the IPO is anticipated to fetch Rs 1,838 crore.
Proceeds from the brand new scenario might be used to retire debt and overall corporate functions.
Devyani World is an partner firm of RJ Corp, the excellent bottling partner of meals and beverages (F&B) main Pepsico, and has pursuits within the Indian retail F&B sector.
The firm is the excellent franchisee of Yum Manufacturers, working core brands equivalent to Pizza Hut, KFC, Costa Coffee apart from its beget brands equivalent to Vaango, Food Avenue, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar.
It currently operates 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee as on March 2021 in India.
Devyani World is led by Ravi Kant Jaipuria, promoter of RJ Corp and Virag Joshi, President and CEO, who hang been key strategists of the expansion efforts by the firm.
Kotak Mahindra Capital Company, CLSA India, Edelweiss Financial Companies and Motilal Oswal Investment Advisors are the book running lead managers to the scenario.
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