IPO update: Devyani International

This franchisee of Pizza Hut, KFC, and Costa Coffee came out with its IPO four months ago. You can find Value Research's IPO analysis here. This article will focus on the post-listing performance of the company in the market and financially. Our analysis of the IPO Devyani International is the largest franchisee of Yum Brands in India and is one of India's largest quick-service restaurants (QSR). Under this franchise, the company operates stores of well-renowned brands, including KFC, Pizza Hut, Costa Coffee, and Vaango. As of September 2021, Devyani International operates 309, 351, 45 and 54 stores of KFC, Pizza Hut, Costa and Vaango, respectively. It also operates QSR chains of KFC and Pizza Hut in Nepal and Nigeria. Based on our IPO analysis, we gave the company a score of 14 out of 27. We just had one major concern: many of its outlets have a dine-in model, which has taken a hit due to covid-19 and remains an area of concern due to the new omicron variant. Our ratings of the compan