Devyani International plans to raise Rs 1,400 crore via IPO.
Pizza Hut, KFC and Costa Coffee operator -Devyani International - filed initial public offering (IPO) papers with capital market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,400 crore through share sale via IPO. The IPO consists of fresh issue of equity shares worth Rs 400 crore and an offer of sale of up to 12.5 crore equity shares by promoter and existing shareholder, according to draft red herring prospectus.
Under the offer for sale, Dunearn Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Temasek Holdings, will sell 6.5 crore shares and promoter RJ Corp will offer 6 crore shares, it added.
Pizza Hut operator Devyani International files for $191m IPO
Photo by Brenna Huff on Unsplash
May 16, 2021
Food and beverages major Devyani International Ltd (DIL), the largest franchisee of Pizza Hut, KFC, and Costa Coffee filed a draft red herring prospectus (DRHP) with the 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 Dunearn Investments (Mauritus) Pte. Ltd, a wholly owned subsidiary of Temasek Holdings and RJ Corp Ltd.
The company is led by Ravi Kant Jaipuria, Promoter, RJ Corp and Virag Joshi, President & CEO, who been a key strategist to the expansion efforts by the company in addition to the management team comprising of Manish Dawar, Wholetime Director and Chief Financial Officer, Rajat Luthra, CEO – KFC and Amitabh Negi, CEO – Pizza Hut.