Devyani Int.
IPO Size
`1,838 Cr
Price Band
`86-90 Per Share
Minimum Lot Size
165 Share
Face Value
`1 Per Share
Employee Discount
NA
Retail Allocation
10%
Issue Open Date
04 Aug, 2021
Issue Close Date
06 Aug, 2021
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
About the Company:
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 and operates 655 stores across 155 cities in India, as of March 31, 2021. Yum! Brands Inc. operates brands such as KFC, Pizza Hut and Taco Bell brands and has presence globally with more than 50,000 restaurants in over 150 countries, as of December 31, 20201. In addition, we are a franchisee for the Costa Coffee brand and stores in India. Their business is broadly classified into three verticals that includes stores of KFC, Pizza Hut and Costa Coffee operated in India (KFC, Pizza Hut and Costa Coffee referred to as “Core Brands”, and such business in India referred to as the “Core Brands Business”) stores operated outside India primarily comprising KFC and Pizza Hut stores operated in Nepal and Nigeria (“International Business”) and certain other operations in the F&B industry, including stores of our own brands such as Vaango and Food Street (“Other Business”).
Outstanding Litigation:
| S.No. | 1 - Company | 2 - Promoters | 3 - Directors | |||
| Entity Name | By the Company | Against the Company | By the Promoters | Against the Promoters | By the Directors | Against the Directors |
| Criminal cases | 6 | 2 | 1 | - | - | 3 |
| Material civil cases | - | 8 | - | - | - | 1 |
| Taxation matters | - | 8 | - | 18 | - | - |
| Regulatory Procedings | - | 30 | - | 5 | - | 2 |
| Amt. (In Million Rs.) | 1.10 | 20.94 | 3.3 | 221.16 | - | 372.43 |
Financial Statements:
| Income Statement (In Millions) | FY21 | FY20 | FY19 | |
| Gross Operating Income | 11988.95 | 15350.41 | 13236.83 | |
| Cost of Employee & Inventory | 4989.92 | 6858.81 | 5804.39 | |
| Impairment of Non-Financial Assets | 480.05 | 38.77 | 247.53 | |
| Other Expenses | 4089.18 | 5750.21 | 4511.97 | |
| EBITDA | 2429.8 | 2702.62 | 2672.94 | |
| Depreciation | 2294.53 | 2233.14 | 2028.26 | |
| Interest | 1528.03 | 1584.37 | 1356.04 | |
| Profit Before Tax | -1392.76 | -1114.89 | -711.36 | |
| Exceptional Items | -568.84 | -345.78 | -131.48 | |
| Tax | -10.68 | 18.41 | 13.02 | |
| Profit After Tax | -813.24 | -787.52 | -592.9 | |
The promoter of the company is Ravi Kant Jaipuria, Varun Jaipuria and RJ Corp.
In the listed space, the organized food retail chain will face competition from Jubilant Foodworks, Burger King, Westlife Development and Barbeque Nation. While in the unlisted arena, the food retailer faces competition from all organized and unorganized food retail chains.
The object of the Offer for Sale is to allow Dunearn Investment Pte. Ltd. and RJ Corp. to sell an aggregate of up to 15.5 cr. equity Shares held by them amounting at Rs. 1,398 cr. The company will not receive any proceeds from the Offer for Sale.
The company has planned to raise fresh capital comprising an aggregate of 48.8 million equity shares having Face Value ₹1 aggregating up to Rs. 440 Cr at the upper price band of Rs. 90. Out of the net proceeds, an amount of Rs. 324 cr. will be utilized for repayment/prepayment of certain borrowings while rest will be utilized for general corporate purpose.