Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Devyani International Limited's IPO to open on August 04, 2021

Posted On: 2021-08-01 11:37:49 (Time Zone: IST)


Devyani International Limited (the "Company"), the largest franchisee of Yum Brands in India, and among the largest operators of chain quick service restaurants ("QSR") in India (Source: Global Data Report), on a non-exclusive basis, operates Pizza Hut, KFC, and Costa Coffee stores, as well as stores of other brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar, is proposing to open the Bid/Offer Period in relation to its initial public offering of Equity Shares (the "Offer") on Wednesday, August 4, 2021. The Bid/Offer period will close on Friday, August 6, 2021. The Price Band for the Offer has been fixed at Rs. 86 - Rs. 90 per Equity Share.

The Company and the Selling Shareholders, may in consultation with the Lead Managers, consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the "SEBI ICDR Regulations"). The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date.

The IPO comprises a fresh issuance of Equity Shares aggregating to Rs. 4,400 million by the Company ("Fresh Issue") and an offer for sale of up to 155,333,330 Equity Shares by the selling shareholders, namely, Dunearn Investments (Mauritius) Pte. Ltd. (the "Investor Selling Shareholder"), and the promoter selling shareholder, RJ Corp Limited (the "Promoter Selling Shareholder" and together with the Investor Selling Shareholder, the "Selling Shareholders" and such offering of Equity Shares by the Selling Shareholders, the "Offer for Sale"). The Offer includes a reservation of up to 550,000 Equity Shares for subscription by Eligible Employees of the Company (the "Employee Reservation Portion"). The Offer less the Employee Reservation Portion is referred to as the "Net Offer".

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75 % of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"), provided that our Company and the Selling Shareholders may, in consultation with the Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. Further, 5% of the QIB Portion (excluding Anchor Investor Portion) ("Net QIB Portion") shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.

Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Company proposes to utilise the Net Proceeds towards (i) repayment/prepayment of all or certain of the Company's borrowings; and (ii) general corporate purposes.

The Equity Shares offered in this Offer are proposed to be listed at both BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE", together with BSE, the "Stock Exchanges") post the listing. For the purpose of the Offer, NSE is the Designated Stock Exchange.

Kotak Mahindra Capital Company Limited, CLSA India Private Limited, and Edelweiss Financial Services Limited are the Global Coordinators and Book Running Lead Managers to the Offer and Motilal Oswal Investment Advisors Limited is the Book Running Lead Manager to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated July 26, 2021 ("RHP") filed with the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi ("RoC").


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Everstone backed SJS Enterprises gets SEBI green signal for its IPO

Ascent Capital-backed Radiant Cash Management Services files draft papers with SEBI to raise funds via IPO

Fino Payments Bank, the first profitable fintech gets Sebi nod for its IPO

Omni Channel Retail Pharmacy Chain, Wellness Forever files for an IPO

Diversified Co., PKH Ventures files its IPO Papers

CX Partners-backed Veeda Clinical Research files for IPO to raise 831 cr

Waaree Energies files DRHP for its IPO

IPO of Shri Venkatesh Refineries Limited to open on BSE SME platform on Sept 29

Paras Defence raises Rs. 51 crores from Anchor Investors

Defence and Space Tech Co, Paras becomes most oversubscribed IPO in Capital Markets History

Hyderabad based Consumer Durable Retail Chain, Electronics Mart India files for Rs 500 cr IPO

Hyderabad based Hariom Pipe files for Rs 120 crore IPO

Florintree backed Defence Electronics Co. Data Patterns files for IPO

Paras Defence and Space Technologies Limited's IPO to open on September 21, 2021

Kolkata based Metal and Mining Co., Tega Industries files for its IPO

Prudent Corporate Advisory Services Limited files DRHP with SEBI

Private Market Intelligence SaaS Platform, Tracxn files for an IPO

Inspira Enterprise India Limited files DRHP with SEBI

Aptus Value Housing Finance India Limited, Issue subscribed 0.37 times, Retail portion booked 0.54 times on day 2

Nuvoco's IPO final day: Issue subscribed 1.71 times on final day, Best interest from QIB subscribed 4.23 times

Keventer Agro Limited files DRHP with SEBI

Aptus Value Housing Finance India Limited raises Rs. 834 crs from 21 Anchor Investors

Retail Segment laps up 80 % of CarTrade's IPO on Day 1

Nuvoco sees Steady Retail Category Interest 31% Subscribed on Day 1

Hyderabad based Edible Oil Co., Gemini Edibles & Fats files for Rs. 2500 cr IPO

Nuvoco Vistas raises Rs. 1,500 crores from Anchor Investors, 30% of the IPO size of Rs. 5,000 crores

Exxaro Tiles Limited IPO final day: Issue subscribed 22.57 times, Best interest from Retail investors subscribed 39.88 times

Devyani International Limited IPO Final Day: Issue subscribed 116.71 times, Retail portion booked 39.51

Devyani International Limited Issue subscribed 6.61 times, Retail portion booked 22.94 on day 2

Exxaro Tiles Limited IPO subscribed 10. 30 times, Retail portion booked 21.11 times on day 2

Chemplast Sanmar Limited Initial Public Offer to open on Tuesday, August 10, 2021

Aptus Value Housing Finance India Limited's IPO to open on August 10, 2021

Devyani International Limited Issue subscribed 2.69 times, Retail portion booked 11.36 times on day 1

Exxaro Tiles Limited Issue subscribed 4.67 times, Retail portion booked 9.29 times on day 1

Nuvoco Vistas's Rs. 5,000 crores IPO to open on August 09, 2021

FSN E-Commerce Ventures Private Limited (Nykaa) Files DRHP with SEBI for IPO

Profitable Multi-Channel Auto Platform CarTrade Tech Limited's IPO to open on August 09, 2021

Krsnaa Diagnostics Limited IPO to open on August 4, 2021

Fino Payments Bank becomes the first profitable fintech to file for an IPO

Vitrified Tiles Major, Exxaro Tiles Limited's IPO to open on August 04, 2021

Windlas Biotech Limited Initial Public Offer to open on Wednesday, August 04, 2021

ESAF Small Finance Bank files for Rs 998 cr IPO

CarTrade Tech Limited gets SEBI approval to float Rs. 2000 crore IPO

Retail focused HFC, Aptus Value Housing gets SEBI approval for IPO

Glenmark Life Sciences IPO - Top Things to Know

Anand Rathi Wealth Ltd files for Rs 1000 cr IPO

Glenmark Life Sciences Limited IPO to open on July 27, 2021

QSR Player Devyani International gets SEBI approval for IPO

Nuvoco Vistas Corporation Limited gets SEBI approval to float Rs. 5000 crore IPO

Northern Arc Capital Limited plans for IPO files DRHP with SEBI


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020