Devyani International IPO – KRChoksey’s Investment Rationale

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

KRChoksey Research’s IPO Report

Devyani International Ltd. is the largest franchisee of Yum Brands in India and is amongst the largest operators of chain quick service restaurants in India and are among the largest operators of chain quick service restaurants in India on a non-exclusive basis, and operate 696 stores across 166 cities in India, as of June 30, 2021.

In addition, Devyani International is a franchisee of the Costa Coffee brand in India, which is owned by Costa, and operated 44 Costa Coffee stores as of June 30, 2021.

The company has other operations in the food and beverage industry, including stores of their own brands such as Vaango and Food Street.

Click on the attachment to read the full IPO report:

KRChoksey Devyani International IPO Note.pdf


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