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Devyani International IPO - Listing Date, GMP & Subscription

Devyani International Ltd IPO listing date: Aug 16, 2021 on NSE, BSE. Listed at ₹141 (+56.7%) vs issue price of ₹90. Subscribed 116.62x overall (QIB: 164.54x). Price band: ₹86-₹90, lot size 165 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Aug 13, 2021

Key Dates

IPO Open DateAug 4, 2021

IPO Close DateAug 6, 2021

Allotment DateAug 11, 2021

Refund DateAug 13, 2021

Demat Credit DateAug 13, 2021

Listing DateAug 16, 2021

Issue Details

Price Band₹86-₹90

Issue Price₹90

Face Value₹1

Lot Size165 shares

Min Investment₹14,850

Issue Size₹1,838 crore

Listing ExchangeNSE, BSE

RegistrarLink Intime India

IPO TypeMainboard

stoicHQ Analysis

✓56.7% listing gain

✓164x QIB subscription

✓KFC and Pizza Hut brand strength in India

✓Tier 2-3 city expansion runway

⚠Royalty payments to Yum Brands compress margins

⚠QSR competition intensifying

About Devyani International Ltd

Devyani International is the largest franchisee operator of KFC and Pizza Hut in India, operating 900+ restaurants across 166+ cities. Part of the RJ Corp group.

Subscription Breakdown

Overall Subscription116.62x

QIB (Institutional)164.54x

NII (HNI)176.09x

Retail46.91x

Listing Price

₹141

Listing Gain

+56.7%

Issue Price

₹90

stoicHQ Analysis

Strong 56.7% listing gain on India's fastest-growing QSR franchisee. KFC and Pizza Hut brand recognition combined with Tier 2-3 city expansion story attracted massive institutional demand (164x QIB). Post-listing performance was sustained through the QSR sector upcycle.

QSR / Food and Beverages2021All 2021 IPOs

IPO Listing Timeline

Previous IPO← Zomato IPO (listed Jul 23, 2021)Next IPONykaa IPO (listed Nov 10, 2021) →

More IPOs from 2021

Zomato IPO+52.6%Nykaa IPO+78.0%Paytm IPO-27.3%

Devyani International IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Aug 13, 2021+₹51-+56.7%

Aug 10, 2021+₹48₹600+53.3%

Aug 6, 2021+₹42₹550+46.7%

Aug 4, 2021+₹38₹500+42.2%

Jul 31, 2021+₹32₹400+35.6%

Jul 28, 2021+₹25₹300+27.8%

Devyani International IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Aug 4)6.22x0.02x4.80x9.18x

Day 2 (Aug 5)22.40x18.74x25.60x24.52x

Day 3 (Aug 6)116.62x164.54x176.09x46.91x

Anchor Investors

Fidelity Funds₹90 crore

Goldman Sachs India₹75 crore

HDFC Mutual Fund₹65 crore

Axis Mutual Fund₹55 crore

Invesco Mutual Fund₹48 crore

Devyani International Ltd - Financials at IPO

YearRevenuePATNet Margin

FY19₹1,802 crore₹103 crore5.7%

FY20₹2,083 crore₹131 crore6.3%

FY21₹1,838 crore₹112 crore6.1%

Listed Peers - QSR / Food and Beverages

Jubilant Foodworks (Domino's)QSR

Restaurant Brands Asia (BK India)QSR

+2.0% listing

Sapphire Foods (KFC/PH franchisee)QSR

+11.0% listing

Frequently Asked Questions

When did Devyani International IPO list?

Devyani International IPO listed on August 16, 2021 on NSE and BSE at ₹141, a 56.7% gain over the issue price of ₹90.

What is the Devyani International IPO price?

The Devyani International IPO issue price was ₹90 per share. The price band was ₹86-₹90, with lot size of 165 shares. Minimum investment was ₹14,850. The IPO raised ₹1,838 crore.

What was the Devyani International IPO GMP?

The grey market premium (GMP) for Devyani International IPO peaked at ₹51 before listing, correctly signalling the 56.7% listing gain. GMP climbed from ₹25 when the IPO opened on August 4, 2021.

What restaurants does Devyani International operate?

Devyani International is the largest franchisee of KFC and Pizza Hut in India, operating 900+ restaurants across 166+ cities. It is part of the RJ Corp group owned by Ravi Kant Jaipuria.

What was the Devyani International IPO subscription status?

Devyani International IPO was subscribed 116.62x overall. QIB subscription was 164.54x, NII (HNI) was 176.09x, and retail was 46.91x.

What is the allotment date for Devyani International IPO?

The allotment date for Devyani International IPO was August 11, 2021. Refunds were processed on August 13, 2021 and listing was on August 16, 2021.