Devyani Intl tumbles on large volumes

23 Aug 2022 , 12:16 PM

On the BSE, the counter clocked volume of 3.27 crore shares as compared to an average volume of 2.12 lakh in the past three months. On the NSE, the counter clocked volume of 1.48 crore shares as compared to an average volume of 28.31 lakh shares in the past three months. The names of the buyers and sellers could not be ascertained immediately. As per media reports published early today, Dunearn Investments (Mauritius) Pte Ltd was to sell nearly 3% stake at Rs 182-196.25 per share. The base offer was expected at 2.6 crore shares (2.19% equity) with an upsize option of 87.76 lakh shares (0.73% equity). The total deal size is expected at $80-86 million, the reports added. Dunearn Investments held 16.26% stake in Devyani International as on 30 June 2022. Devyani International is the largest franchisee of Yum Brands in India and are among the largest operators of chain quick service restaurants (QSR) in India, on a non-exclusive basis, and operate 884 stores across more than 200 cities in India, Nigeria and Nepal, as of 31 December 2021. In addition, DIL is a franchisee for the Costa Coffee brand and stores in India. The company reported a consolidated net profit of Rs 73.85 crore in the quarter ended June 2022 as against net loss of Rs 28.88 crore during the previous quarter ended June 2021. Sales rose 99.78% to Rs 704.72 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market – Live News