How did Devyani International IPO Perform on the Final Day?

The initial public offering of Devyani International was subscribed 116.70 times as of 5 PM on 6 August, the final day of its IPO. The IPO received bids for 13,13,79,21,555 shares against an issue size of 112,569,719 equity shares. In contrast, this IPO was subscribed only 3.06 times and 6.61 times on day 1 and day 2’s end.

Devyani International IPO opened on 4 August 2021 and closed today. Per its DRHP, Devyani International IPO consists of a fresh issue of Rs. 440 crores along with an offer for sale of Rs. 1,389 crores. The issue comes with a fixed price band of Rs. 86 – 90 per share with a face value of Re. 1 apiece.

To know how Devyani International IPO performed on its third and final day, let’s look at the following sections.

Devyani International IPO Subscription Status on Day 3

Here’s how Devyani International’s public offering performed across various investor segments on its IPO’s last day:

Qualified institutional buyers (QIBs) have bid for 5,82,13,49,490 shares against 61,101,666 shares reserved for them.
Retail investors have subscribed for 80,49,33,360 shares against the 2,03,67,221 shares that were allocated for them.
Non-institutional investors (NIIs) have placed bids for 6,50,90,55,465 shares against 30,550,832 shares reserved for them.
The employees of Devyani International have subscribed 4.70 times the shares reserved for this category.

How Did Devyani International IPO Perform?

Let’s look at a tabular representation of Devyani International IPO’s performance for the past 3 days across all the categories:

Categories of Investor	IPO Subscription
Qualified institutional buyers	95.27 times
Retail investors	39.52 times
Non-institutional buyers	213.06 times
Employees	4.70 times
Total	116.71 times

More than half of the shares were reserved for qualified institutional buyers. About 27% and 18% of the IPO were meant for NIIs and individual retail investors.

Anchor Investors Poured Rs. 800+ Crores in Devyani International

Ahead of its IPO, Devyani International had mopped up Rs. 825 crores from 63 anchor investors on 3 August. It allocated over 9.16 crores shares to anchor investors at Rs. 90 apiece. Out of these shares, more than 2.1 crore shares are reserved for 6 domestic mutual funds through 28 schemes.

Some of the top Devyani International anchor investors include:

Goldman Sachs
Abu Dhabi Investment Authority
Government of Singapore
Nomura Trust
Mirae Asset
NS Partners Trust
Vantagetrust
Carmignac Portfolio
CLSA
Best Investment Corporation

The domestic anchor investors are as follows:

Bajaj Allianz Life Insurance
SBI General Insurance
SBI Life Insurance
Aditya Birla Sun Life Insurance
ICICI Mutual
Tata Mutual Fund
Sundaram Mutual Fund

Bottom Line

Investors who missed out on the opportunity to subscribe to Devyani International IPO can buy shares of the company once it gets listed on BSE and NSE. However, they must make sure to check the company’s strengths, finances, and business model before allocating funds.