Jan 18, 2022 04:09 PM
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The Company was originally incorporated as `Universal Ice Creams Private Limited` at New Delhi as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated 13 December 1991. Subsequently, the name of the Company was changed to `Devyani International Private Limited` and a fresh certificate of incorporation dated 07 June 2000, was issued by the RoC. Thereafter, the Company was converted into a public limited company and consequently the name of the Company was changed to `Devyani International Limited` and a fresh certificate of incorporation dated 09 May 2005 was issued by the RoC. The company is a multi-dimensional comprehensive quick service restaurant(QSR) player in India. The Company is primarily engaged in the business of developing, managing and operating quick service restaurants and food courts for brands such as Pizza Hut, KFC, Costa Coffee, Vaango, etc., and retail stores of TWG Tea.The company has 692 stores across India,Nepal and Nigeria.The company has its presence in 155 cities across India. As on 31 March 2019,the company has 6 subsidiaries and one joint venture company under its fold. The operations of the company in Fiscal 2021 were severely impacted by COVID-19 and consequent lockdowns and restrictions imposed in India. Dine-in operations at many of stores were suspended or restricted, on account of government restrictions imposed during Fiscal 2021, in particular during the six months ended 30 September 2020, which resulted in decline in sales. During the FY2021,the company has allotted 5308333 and 2200000 equity shares to Yum Restaurants India Private Ltd and RJ Corp Ltd respectively on preferential basis. Further,with effect from 25 March 2021,the company has sub-divided the face value of equity share from Rs 10 to Re 1 per share. The Board of Directors of the Company at its meetings held on 17 February 2021 and subsequently on 13 May 2021, approved the proposed Initial Public Offering of Equity Shares of face value of Rd 1 each of the Company comprising of a fresh issue of Equity Shares aggregating up to Rs 4,000 million ("Fresh Issue") and an offer for sale of up to 125,333,330 Equity Shares comprising of up to 65,333,330 Equity Shares by Dunearn Investments (Mauritius) Pte. Ltd. and up to 60,000,000 Equity Shares by RJ Corp Limited. During the month of August 2021,the company has launched its Rs 1838-crore IPO offering a total of 112569719 shares of Re 1 each at a premium of Rs 89 per share.The offer had comprised a fresh issue of Rs 440 crore and an offer for sale of Rs 1398 crore by investor Dunearn Investments and RJ Corp. The company will repay its debts through fresh issue proceeds,besides use for general corporate purposes. The allotted shares were listed on the BSE Ltd and National Stock Exchange of India(NSE) on 16 August 2021.
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