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IPO

Anchor investors pump in Rs. 825-Cr in IPO-bound Devyani International

MyBigPlunge  

Devyani International, the largest franchisee of Pizza Hut, KFC and Costa Coffee in India, has mobilized INR 825 crore from anchor investors. The company has allocated 9.16 crore equity shares to 41 anchor investors at INR 90 apiece, aggregating to INR 825 crore. A total of 28 foreign portfolio investors (FPIs) participated in the anchor book. These included Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Monetary Authority of Singapore, Abu Dhabi Investment Council, Government of Singapore, Jupiter Asset Management, Nomura and Macquarie. In addition, 13 domestic investors including 6 mutual funds, 6 life insurance companies and one general insurance company participated in the anchor book. Under the offer-for-sale, Dunearn Investments (Mauritius) Pte Ltd, a wholly-owned subsidiary of Temasek Holdings, will offload 6,53,33,330 shares and promoter RJ Corp will sell 9 crore shares. The company has fixed a price band of INR 86-90 a share for its IPO and at the upper end of the price band, the public issue is expected to fetch INR 1,838 crore.