KFC, Pizza Hut and Costa Coffee operator Devyani international raised Rs 824.87 crore from 63 anchor investors on August 3, a day before the opening of its initial public offering (IPO).
The company in consultation with merchant bankers and selling shareholders, has finalised the allocation of 9,16,52,499 equity shares to anchor investors, at a price of Rs 90 per share, said Devyani International in a BSE filing.
Prominent investors who participated in the anchor book include Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs, Government of Singapore, Monetary Authority of Singapore, Mirae Asset, Nomura Trust, Private Client Emerging Markets Portfolio, NS Partners Trust, Neuberger Berman Investment, Kuwait Investment Authority Fund, Vantagetrust, Best Investment Corporation, CLSA, Carmignac Portfolio, and Affin Hwang Select Asia Quantum Fund.
Domestic investors including SBI General Insurance, Bajaj Allianz Life Insurance, SBI Life Insurance, Aditya Birla Sun Life Insurance, Sundaram Mutual Fund, ICICI Prudential, Tata Mutual Fund, and HDFC Life Insurance also participated in the anchor book.
"Out of the total allocation of 9,16,52,499 equity shares to anchor investors, 2,10,51,525 equity shares were allocated to 6 domestic mutual funds through a total of 28 schemes," said the company.
Devyani International is going to open its Rs 1,838-crore public issue for subscription from August 4-6.
The IPO comprises a fresh issue of Rs 440 crore and an offer for sale of 15,53,33,330 equity shares by investor Dunearn Investments and promoter RJ Corp. The price band for the offer has been fixed at Rs 86-90 per share.
The net fresh issue proceeds will be utilised towards repayment of borrowings (Rs 324 crore).
Also read - Devyani IPO: KFC, Pizza Hut operator to launch offering tomorrow. Know the lot size, issue size and price band
Devyani International is the largest franchisee of Yum Brands in India and is among the largest operators of chain quick-service restaurants (QSR) in India, on a non-exclusive basis, and operate 696 stores across 166 cities in India, as of June 2021.
Yum! Brands Inc. operates brands such as KFC (a global chicken restaurant brand), Pizza Hut (the largest restaurant chain in the world specializing in the sale of ready-to-eat pizza products) and Taco Bell brands and has presence globally with more than 50,000 restaurants in over 150 countries, as of December 31, 2020.
In addition, the company is also a franchisee for the Costa Coffee brand and stores in India.
The company operates 284 KFC stores, 317 Pizza Hut stores, and 44 Costa Coffee stores in India as of June 30, 2021.
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