The IPO is being sold in the Rs 86-90 price band. Since the largest franchisee of KFC, Pizza Hut, and Costa Coffee is a loss-making firm, analysts are valuing it on metrics such as EV/Ebitda and EV/sales, and largely have a subscribe rating on the issue.
NEW DELHI: The Rs 1,838 crore IPO by Devyani International kicked off on Wednesday. On the block is a fresh issue of shares aggregating Rs 440 crore and an offer for sale (OFS) of up to 15.53 crore shares being sold in the Rs 86-90 price band. Last heard, the unlisted stock was commanding a grey market premium of Rs 63-65.
Since the largest franchisee of KFC, Pizza Hut and Costa Coffee is a loss-making firm, analysts are valuing it on metrics such as EV/Ebitda and EV/sales, and largely have a subscribe rating on the issue. Some of them even suggest subscribing for listing gains.
Rupee Surges 18 Paise To 74.10 Against US Dollar In Early Trade
At the interbank foreign exchange, the domestic unit opened at 74.16 against the dollar, then inched higher to 74.10, registering a gain of 18 paise over its previous close.
PTI 04 August 2021, Last Updated at 10:44 am File Photo PTI 2021-08-04T10:43:31+05:30 Rupee Surges 18 Paise To 74.10 Against US Dollar In Early Trade outlookindia.com 2021-08-04T10:44:24+05:30
The Indian rupee gained 18 paise and touched 74.10 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities and weak American currency.
At the interbank foreign exchange, the domestic unit opened at 74.16 against the dollar, then inched higher to 74.10, registering a gain of 18 paise over its previous close.
NEW DELHI: The Rs 1,838 crore IPO by Devyani International was fully subscribed on the first day of the bidding process.
At 5:00 pm, the issue received bids for 30,23,56,560 shares, which was 2.7 times the issue size of 11,25,69,719 shares.
The IPO is being sold in the Rs 86-90 price band. Last heard, the unlisted stock was commanding a grey market premium of Rs 63-65.
Since the largest franchisee of KFC, Pizza Hut, and Costa Coffee is a loss-making firm, analysts are valuing it on metrics such as EV/Ebitda and EV/sales, and largely have a subscribe rating on the issue. Some of them even suggest subscribing for listing gains.
Indian rupee rises to 20.19 versus UAE dirham
Staff Report/Dubai
(File)
Regional currencies have started marginally mixed against the dollar early Wednesday.
The Indian rupee gained 18 paise and touched 74.10 against the US dollar (20.19 versus the UAE dirham) in early trade on Wednesday, supported by a firm trend in domestic equities and weak American currency.
The rupee opened at 74.16 against the dollar, then inched higher to 74.10, registering a gain of 18 paise over its previous close.
The dollar index was trading 0.06 per cent down at 92.02.
Regional currencies have started marginally mixed against the dollar early Wednesday morning, Reliance Securities said in a research note. The local unit could be supported by the FPI inflows into the equity markets, easing crude oil prices, the note added.