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Wednesday, November 01, 2006

Devyani International plans IPO for expansion

The Rs 400 crore food and beverage retail franchisee major, Devyani International, which runs KFC, Pizza Hut and Costa Coffee chain of restaurants in India, is contemplating to hit the capital market next year, reports The Economic Times.

"We are planning to hit the capital market next year to raise resources for massive expansion in the retail sector. We will make Devyani International public, not our brand RJ Corp," said Devyani International chairman Ravi Kant Jaipuria.

The process of consolidation of group companies was on before hitting the market, Jaipuria said.

The Jaipuria have diversified interest in real estate, food and beverage retailing and education.

The group had drawn up plans for major domestic and international forays. Real estate projects have been drawn for Colombo and Kathmandu.

He, however, did not disclose details of the proposed public offer and the amount to be raised.

Jaipuria said that the group has also tied up with Walt Disney Co to develop a chain of stores that would sell a new line of Disney branded products.

US-based Yum Restaurants, owner of the KFC, Pizza Hut brands, aimed to add new 60 to 70 KFC restaurants in India by next year.

The Jaipurias may also tie-up with US based Kazi group, the largest KFC resturants owner in US, to jointly expand the KFC brand in India.

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