Devyani International IPO – Schedule *(Final – Pg#390 of RHP)*
30th July – Announcement of Price Band
03rd Aug – Anchor Investors Allotment
04th Aug – Offer Opens
06th Aug – Offer Closes
11th Aug – Finalisation of Basis of Allotment
12th Aug – Unblocking of ASBA Accounts
13th Aug – Credit of Equity Shares to Depository Accounts
16th Aug – Commencement of Trading
Devyani International IPO – Issue Information *(Tentative)*
Issue Opens on: 04 August 2021
Issue Closes on: 06 August 2021
Issue Type: Book Built Issue IPO
Issue Size: 20,59,08,043 Shares
Face Value: Re.1/- per Share
Issue Price: Rs.85 – Rs.87 Share
Discount: Rs.??/- per Share (for Employees)
Market Lot: 172 Shares
Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 1,15,36,34,990 Shares
Fresh Issue of 5,05,74,712 Shares @87/- = Rs.440.00Crs
Offer for Sale of 15,53,33,330 Shares @87/- = Rs.1351.40Crs
Equity Shares outstanding after the Issue = 1,20,42,09,702 Shares
Category-wise Break up:
Anchor – 9,24,11,119 Shares = 803.98Crs
QIB – 6,16,07,413 Shares = 535.98Crs
NII – 3,08,03,706 Shares = 267.99Crs
RII – 2,05,35,805 Shares = 178.66Crs (Lot size: 172 = 1,19,394 Forms)
Empl. – 5,50,000 Shares = 4.79Crs (Discount @??)
Total Issue – 20,59,08,043 Shares = 1,791.40Crs.
Subscription required for 1X
RII = 1,19,394 Forms
NII = 267.99 Crs
Devyani International IPO – Financial Information (Basis of Valuation)
The information is collated from the following documents:
1) RHP = Red Herring Prospectus Dated July 26, 2021 (432 pages)
EPS for FY18-19 >>> Rs. (0.75) (Page #102 of RHP)
EPS for FY19-20 >>> Rs. (1.14) (Page #102 of RHP)
EPS for FY20-21 >>> Rs. (0.50) (Page #102 of RHP)
RoNW for FY18-19 >>> (NA)% (Page #103 of RHP)
RoNW for FY19-20 >>> (NA)% (Page #103 of RHP)
RoNW for FY20-21 >>> (48.52)% (Page #103 of RHP)
NAV as on March 31, 2021 was Rs.1.03 (Page #103 of RHP)
Listed Industry Peer Group (Page #103 of RHP): Jubilant FoodWorks, Westlife Development, Burger King India
Devyani International IPO – *Market’s Current Estimates of oversubscription*:
NII = 60KCrs. = ~223.89X
RII = 42L Forms = 35.18X Applic. wise (Avg allotment of ~4.89 shares per lot)
Interest cost *@8.00%p.a.* for 7days = *13.35paise for 1X*
Thus, for NII the costing = 223.89 X 13.35 paise = Rs.29.88 per share (= GMP)
And, for RII the costing = 29.88 X 4.89 = Rs.146/- (= Kostak)
Devyani International IPO – *GMP Estimated*
GMP 54.00 +/- 1
Kostak 265 +/- 10
Subject 2 @7,900/-