Devyani International IPO Subscription Day-1

The Rs.1,838 crore Devyani International IPO, consisting of Rs.440 crore fresh issue and Rs.1,398 crore OFS, has gradually built on the response from retail investors on Day-1. As per the combined bid details put out by the BSE, Devyani International IPO was subscribed 2.69X overall, with bulk of the demand coming from the retail segment. The issue closes for subscription on Friday, 06 August.

As of the close of 04 August, out of the 1,125.70 lakh shares on offer, Devyani International saw applications for 3,022.98 lakh shares. This implies an overall subscription of 2.69X. The granular break-up of subscriptions was tilted in favour of retail investors but HNI and QIB portions did see some demand on Day-1. 

Devyani Internation IPO subscription Summary Day 1

QIB Portion

The QIB portion saw demand for 467.66 lakh shares against 611.02 shares available; net of anchor placement. On 03 August, Devyani International did anchor placement of Rs.824.87 crore to QIB investors like ADIA, Fidelity, Goldman Sachs, Government of Singapore, Monetary Authority of Singapore, Kuwait Investment Authority etc. QIB portion is subscribed 0.77X, but is likely to see action on the last day.

HNI Portion

The HNI portion also got subscribed 0.77X (getting applications for 234.88 lakh shares against the quota of 305.51 lakh shares). Funded applications and corporate applications, come in on last day. The real big story was the retail portion, which is already subscribed 11.35 times at the end of Day-1, showing strong retail appetite.

Retail Portion

Among retail investors; out of the 203.67 lakh shares on offer, valid bids were received for 2,311.84 lakh shares, of which bids for 1,826.54 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.86-Rs.90) and has allocated a quota of 10% for retail and 75% for QIBs.