 "Initial public offerings, IPOs, stock market, investors")
Devyani International, the KFC franchisee, Pizza Hut and Costa Coffee in India, is eyeing valuations of close to Rs 11,000 crore in its initial public offering (IPO), which hits the market next week.
The Ravi Kant Jaipuria-promoted firm has set a price band of Rs 86-90 per share. Its IPO opens on Wednesday and closes on Friday (August 6).
Devyani will issue fresh equity shares worth of Rs 440 crore in the IPO. The proceeds will be used to retire debt, which is around Rs 500 crore on consolidated basis.
The IPO also see Ravi Kant Jaipuria, Dunearn and RJ
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