The IPO by the largest franchisee of Pizza Hut, KFC and Costa Coffee in India was subscribed 116.71 times, with quota reserved for qualified institutional buyers’ (QIB) category getting 95.27 times subscription, non-institutional investors 213.06 times and retail individual investors 39.51 times.
Last heard, the unlisted stock was commanding a grey market premium of Rs 54-56 over the IPO price band of Rs 86-90 per share. It suggests a potential stock listing at Rs 146 apiece, up 62 per cent over the higher end of the price band.
Devyani International is an associate company of RJ Corp, the largest bottling partner of food and beverages (F&B) major PepsiCo, and has interests in the Indian retail F&B sector. The company is the largest franchisee of Yum Brands, operating core brands such as Pizza Hut, KFC, Costa Coffee besides its own brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli, and Ckrussh Juice Bar. At present, it operates 297 Pizza Hut stores, 264 KFC stores and 44 Costa Coffee as of March 2021 in India.
Upon listing, the company would command a market capitalisation of Rs 10,823 crore. At those valuations, the company would command an EV/Ebitda of 62.39 while peers Jubilant FoodWorks and Westlife Development are trading at EV/Ebitda of 66.02 and 206.11, respectively, analysts said in their IPO reviews.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Devyani International Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot and hit submit.
You can also check the allotment status on the online portal of Link Intime India Private Limited (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch, and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
Bidders who could not get allotment in the IPO may see the initialisation of refunds on Thursday. Others, who would be allotted shares may see the credit of shares in their demat accounts by Friday. Listing is likely on Monday next week.
