The broader market, however, saw profit booking as, both, the BSE Mid and SmallCap indices declined 1 per cent each.
At the upper end of the price band, Devyani is offered at 9.5x market capitalisation/sales as per FY21 financial statement, compared to peers like Jubilant Foodworks (15x), Westlife Development (8.8x)
Technical analysts say the market remains in an uptrend as the index has managed to find support at its 50-day moving average
Ravi Kant Jaipuria-promoted Devyani International prices its IPO between Rs 86-90
Devyani runs the franchises for Pizza Hut, KFC and Costa Coffee, apart from a handful of in-house brands