Devyani International IPO Subscription Status: FINAL
Devyani International Limited, incorporated in 1991, is the largest franchisee of Yum Brands (KFC, Pizza Hut) in India and are among the largest operators of chain quick-service restaurants (“QSR”) in India, on a non-exclusive basis, and operate 655 stores across 155 cities in India, as of March 31, 2021, and 696 stores across 166 cities in India, as of June 30, 2021.
| 8Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB)1 | 75% | 95.27x |
| Non-Insti. (HNI) | 15% | 213.06x |
| Retail (RII) | 10% | 39.35x |
| Employee | – | 4.70x |
| Total Subscription | 100% | 116.68x |
Devyani International IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.77x | 1.32x | 95.27x |
| HNI | 0.77x | 6.37x | 213.06x |
| Retail | 11.35x | 22.94x | 39.35x |
| Employee | 1.56x | 3.10x | 4.70x |
| Total | 2.69x | 6.61x | 116.68x |
Devyani International IPO Subscription: Analyst Recommendations
CHOICE BROKING – SUBSCRIBE [ Report ]
“DIL will utilize Rs324 cr from the fresh proceed to the repayment of debt which in turn will aid the company to improve net profit margin. OCF margin also remained at a healthy level at 20% during FY19-FY21. With the strong boost in revenue, cash flow generation is expected to remain healthy also driven by likely improvement in margin and favourable Working Capital cycle.”
ANGEL BROKING – SUBSCRIBE
“Devyani International has a better operating margin compared with Westlife Development and Burger King. We believe this valuation is being done at a reasonable level. Thus, we recommend a ‘subscribe’ rating on the issue,”
Marwadi Shares and Brokers – SUBSCRIBE
“We assign ‘subscribe’ rating to this IPO as the company is a comprehensive multidimensional QSR player with a portfolio of highly recognized global brands and is available at reasonable valuation as compared to its peers,”
LKP SECURITIES – SUBSCRIBE [ Report ], Prabhudas Lilladher – SUBSCRIBE,
Devyani International IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹1,838 Cr |
| Open Date | 04/08/2021 |
| Close Date | 06/08/2021 |
| Face Value | ₹1/- per Equity Share |
| IPO Price | ₹86 – ₹90 |
| Lot Size | 165 shares |
| Lots | Min 1 – Max 13 |
Devyani International IPO Subscription: Financials
| 2019 | 2020 | 2021 | |
|---|---|---|---|
| Revenue from Ops | ₹1,310.6 Cr | ₹1,516.4 Cr | ₹1,134.8 Cr |
| Profit before Excep* | ₹(71.14) Cr | ₹(111.49) Cr | ₹(139.28) Cr |
| Profit after Tax | ₹(94.14) Cr | ₹(121.42) Cr | ₹(62.99) Cr |
| EPS (Basic) | (0.75) | (1.14) | (0.50) |
| As of March 2020 | EPS (Avg*) | P/E (Floor) | P/E (Cap) |
|---|---|---|---|
| Based on basic EPS | (0.76) | NA** | NA** |
Devyani International IPO: Comparison with listed industry peers
| Company | P/E (Cap) |
|---|---|
| Rolex Rings | – |
| Highest (Jubilant Foodworks) | 179.21 |
| Lowest | NA* |
| Sector Avg | 77.52 |
Devyani International IPO Subscription – FAQs
1. How to apply for Devyani International IPO in the Retail Category?
A: An investor in the retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Devyani International IPO in HNI Category?
A: An investor can apply in the HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospectus (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP
