Devyani International shares close with 37% premium on listing day
Devyani is expected to generate good returns in long term as the growth potential of the industry is good.
Devyani International, the largest franchisee of Yum brands in India including KFC, Pizza Hut and Costa Coffee rolled out its PO last week which received strong response from investors as the IPO was oversubscribed by 116.71 times.
The stocks of Devyani International debuted on the bourses at Rs 141 which remained an intraday high level. The trade volume on NSE for the stock was 15.24 crore equity shares whereas on BSE it was 69.15 lakh equity shares.
The stock finally settled and closes at a decent 37 per cent premium at a level of 123.35 on BSE and 123.50 on the NSE. The company plans to utilize the raised capital for repayment of debts.
Devyani International operates some of the leading QSR brands in India through a network of 696 outlets spread across 166 cities in India.
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