RJ Corp plans Devyani IPO in 2019 to reach Rs 320 billion revenue goal

Devyani runs the franchises for Pizza Hut, KFC and Costa Coffee, apart from a handful of in-house brands

The Ravi Kant Jaipuria-led RJ Corp is planning an initial public offering (IPO) for Devyani International, the group’s food and beverage retailing arm, next year. 

Devyani, which runs the franchises for Pizza Hut, KFC and Costa Coffee, apart from a handful of in-house brands, will be the second company from RJ to go public after flagship firm Varun Beverages was listed on the Bombay Stock Exchange in 2016.

While Devyani has been adding outlets for the past year, the IPO is triggered by Jaipuria’s aggressive expansion plans for the business division. From 2018, Devyani’s store count is slated to go up by