Devyani International makes a strong debut in stock markets, lists at over 56% above issue price

Devyani Internationals IPO

Devyani International share price: The shares of Devyani International, the largest franchisee of fast food majors Pizza Hut, KFC, and Costa Coffee in India, made a strong debut on the stock exchanges today listing at over 56 percent higher than their issue price.

The scrip got listed at Rs 141 apiece on the BSE, thereby registering a gain of 56.67 percent from its offer price of Rs 90, while on the National Stock Exchange (NSE), it opened at Rs 140.90, up 56.55 percent from the issue price.

The stock however couldn’t added to its opening gains and touched an intraday low of Rs 120.80 on NSE and Rs 120.75 on the BSE so far during the first half-hour of trade.

At 10:30 am, the scrip was trading at Rs 128.75 on the BSE, up 43.06 per cent from the issue price while on NSE it was at Rs 128.55.

Over 9.97 crore shares of Devyani International were traded on the NSE during the first 30 minutes of trade, while over 42.68 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 1,838 crore IPO of the quick service restaurants (QSR) operator met a robust demand during its offer period from August 4-6. The issue was oversubscribed by a whopping 116.71 times.

Devyani International currently operates 297 Pizza Hut stores, 264 KFC stores, and 44 Costa Coffee as of March 2021 in India.

Source: The Indian Express

Leave a Reply

Your email address will not be published.

Back To Top
%d bloggers like this: