Pizza Hut, KFC Operator Devyani International Gets Sebi Nod To Float IPO

Devyani International has received SEBI's nod for its proposed initial public offering (IPO). The IPO will consist of a fresh issue of shares worth Rs 400 crore and an offer of sale of up to 12.5 crore shares. Devyani International is the largest franchisee of Yum Brands in India, besides operating quick service restaurant (QSR) brands such as Pizza Hut and KFC, and its own brands Vango and Food Street.