- May 17, 2021 / 3 min readDevyani International is led by Ravi Kant Jaipuria who is also promoter at RJ Corp and Virag Joshi, President & CEO, Devyani International.
The largest franchisee of Pizza Hut, KFC, Devyani International Ltd (DIL), has filed a draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) to raise nearly ₹1,400 crore through an initial public offering (IPO).
According to DRHP, the offer comprises a fresh issue of ₹400 crore and an Offer of Sale of up to 125.33 million equity shares by Investor Selling Shareholder, Dunearn Investments (Mauritus) Pte. Ltd, a wholly owned subsidiary of Temasek Holdings and Promoter Selling Shareholders, RJ Corp Ltd.
Devyani International is led by Ravi Kant Jaipuria who is also promoter at RJ Corp and Virag Joshi, President & CEO, Devyani International.
Devyani also operate Costa Coffee chains in India. It opened 109 stores across its core brand business in the last 6 months.
In FY21 DIL's business from the core brands (India & Internationally) accounted for 94.19% of its revenues from operations and delivery sales represented 70.20% of the said revenues, an increase from 51.15% in FY20. Between March 2019-2021 the core brand stores saw a CAGR growth of 13.58% from 469 stores to 605 stores and the company attributes its success and continuous growth effort to its 9,356 employees, reported Mint.
Kotak Mahindra Capital Company Ltd, CLSA India Pvt Ltd, Edelweiss Financial Services Ltd, Motilal Oswal Investment Advisors Ltd are the investment bankers to the issue.
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