Tag: Indian Market
At the issue price, the company commanded a market capitalisation of Rs 10,823 crore and was valued at an EV/ EBITDA of 62.39.
It was subscribed 116.71 times, with qualified institutional buyer (QIB) category being subscribed 95.27 times, non-institutional investors 213.06 times, and retail individual investors 39.51 times.
On 16th August 2021, Monday, the shares of Devyani International got listed on BSE at Rs. 141 at 56.66 per cent premium and on NSE, it got debuted at Rs. 140.90, up by 56.55 per cent.
In FY21, Devyani’s business from the core brands (India & Internationally) contributed 94.19 per cent to its revenues from operations. Delivery sales represented 70.20 per cent of revenues in FY21 in comparison to 51.15 per cent in FY20.
The company opened 40-50 stores across its brands in the last 2-3 quarters and expects to sustain this momentum. It also opened 43 stores in June quarter and 109 stores across core brands in the second half of FY21.
Company Profile
Devyani International is an associate company of RJ Corp, which is the largest bottling partner of food and beverages (F&B) major PepsiCo. It has interests in the Indian retail F&B sector. The company is the largest franchisee of Yum Brands, operating core brands such as Pizza Hut, KFC, Costa Coffee. The company operates 284 KFC stores, 317 Pizza Hut stores, and 44 Costa Coffee stores in India as of June 30, 2021. The company also owns brands such as Vaango, Food Street, Masala Twist, Ile Bar, Amreli and Ckrussh Juice Bar and has operations in Nigeria and Nepal.
(Source: Economic Times, Financial Express)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Sapphire Foods’ initial public offering (IPO) consists of 1,75,69,941 equity shares and is a full offer for sale by shareholders. QSR Management Trust (QMT) owns 8.5 lakh equity shares, Sapphire Foods Mauritius owns 55,69,533 equity shares, and WWD RUBY owns 48,46,706 equity shares, Amethyst has 39,61,737 equity shares, AAJV Investment Trust has 80,169 equity shares, Edelweiss Crossover Opportunities Fund has 16,15,569 equity shares, and Edelweiss Crossover Opportunities Fund – Series II has 6,46,227 equity shares.
Sapphire Foods’ potential IPO was initially reported by Moneycontrol on December 17. Sapphire Foods, which is backed by Samara Capital, raised Rs 1,150 crore from private equity investors Creador, NewQuest Capital Partners, and TR Capital earlier this week. As of March 2021, Sapphire Foods runs 437 restaurants in India, Sri Lanka, and the Maldives under the KFC, Pizza Hut, and Taco Bell brands. Investors such as Samara Capital affiliates, Goldman Sachs, CX Partners, Creador, and Edelweiss are backing an omnichannel restaurant operator.
Due to the increased demand for delivery and takeaway services as a result of the Covid-19 outbreak, and depending on market dynamics and adjacent catchments, the company is contemplating smaller formats for new restaurants in order to cut down on one of the company’s biggest expenses – rent.
Colonel Harland D Sanders started KFC in Corbin, Kentucky, in 1939; the first Pizza Hut restaurant opened in Wichita, Kansas, in 1958; and the first Taco Bell restaurant opened in Downey, California, in 1962. YUM! and its franchisees operated more than 50,000 locations worldwide as of December 31, 2020.
The book running lead managers for Sapphire Foods’ IPO are JM Financial, BofA Securities India, ICICI Securities, and IIFL Securities. Devyani International, another KFC, Pizza Hut, and Costa Coffee quick service restaurant operator, recently collected Rs 1,838 crore through a public offering that was oversubscribed 116.7 times.
Company Profile
SAPPHIRE FOODS INDIA PRIVATE LIMITED COMPANY, is an entity incorporated on 10 November 2009 under Ministry of Corporate Affairs (MCA). SAPPHIRE FOODS INDIA PRIVATE LIMITED COMPANY is also an entity listed under Class as a Private organization having Registration Number for the Company or Limited Liability Partnership as 197005. SAPPHIRE FOODS INDIA PRIVATE LIMITED COMPANY is a Non-govt company and further SAPPHIRE FOODS INDIA PRIVATE LIMITED COMPANY is Classified as a Company limited by Shares. The concerned entity is incorporated and registered under its relevant statute by the Registrar of Companies (i.e. R.O.C), RoC-Mumbai. The official address for the Registered office of the organization in question i.e. SAPPHIRE FOODS INDIA PRIVATE LIMITED COMPANY is 131, 13th Floor Free Press House Building Mumbai Mumbai City MH 400021 IN.
(Source: Fact Set)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
