This Third QSR Entity Files For Rs. 1400 Crore IPO

Devyani International, operating Pizza Hut, Costa Coffee and KYC in India has filed its DRHP to the market regulator SEBI for floating its public issue.

This Third QSR Entity Files For Rs. 1400 Crore IPO

Devyani International as per a leading online portal's news report plans to come up with a Rs. 1400 crore IPO. Deyani International is a subsidiary arm of RJ Corp, a diversified conglomerate which is the leading bottling company for Pepsi Co in India.

Now this shall be the third QSR company making its way to the Indian bourses following the listing of other two players, namely Burger King and Barbeque Nation. In the food segment, the last company that debuted on the bourses was Mrs. Bector's. "The IPO is a mixture of primary and secondary issue of shares with a fresh issue component of Rs 400 crore and an OFS(offer for sale) component up to 125,333,330 equity shares," quoted the publication citing one of the source. Temasek and RJ Corp, which are the company's promoter entity through the IPO will be able to reduce their stake in the firm.

"Kotak Mahindra Capital, Edelweiss Financial Services, CLSA and Motilal Oswal are the investment banks working on the IPO plan. Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas are the legal advisors to the IPO.

The proceeds from the issue will be put to pare the company's debt and also for general corporate purposes.

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