Pizza Hut operator Devyani International files for $191m IPO
Photo by Brenna Huff on Unsplash
May 16, 2021
Food and beverages major Devyani International Ltd (DIL), the largest franchisee of Pizza Hut, KFC, and Costa Coffee filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise nearly ₹1,400 crore through an initial public offering (IPO).
According to DRHP, the offer comprises a fresh issue of ₹400 crore and an offer of sale of up to 125.33 million equity shares by Dunearn Investments (Mauritus) Pte. Ltd, a wholly owned subsidiary of Temasek Holdings and RJ Corp Ltd.
The company is led by Ravi Kant Jaipuria, Promoter, RJ Corp and Virag Joshi, President & CEO, who been a key strategist to the expansion efforts by the company in addition to the management team comprising of Manish Dawar, Wholetime Director and Chief Financial Officer, Rajat Luthra, CEO – KFC and Amitabh Negi, CEO – Pizza Hut.