Devyani International IPO subscribed 33% on day 1

Devyani International

The initial public offering (IPO) of KFC, Pizza Hut and Costa Coffee operator Devyani international has been subscribed 33 percent on August 4, the first day of bidding.

The offer has received bids for 3.71 crore equity shares against the IPO size of 11.25 crore equity shares, the subscription data available on exchanges showed. The IPO size has been reduced to 11.25 crore equity shares from 20.42 crore equity shares after the company raised Rs 824.87 crore from anchor investors on August 3.

The retail investors remained at the forefront as their reserved portion was subscribed 1.78 times and that of employees 11 percent.

The portion set aside for non-institutional investors has seen a subscription of 3 percent and qualified institutional buyers have put in bids for 1.1 lakh equity shares against their reserved portion of 6.11 crore equity shares.

News Source:- Moneycontrol

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