IPO funds to make Devyani International debt free: Ravi Kant Jaipuria
The key brands clearly are KFC, Pizza Hut, Costa Coffee and our home grown brand which is Vaango and Food Street. A slew of our own brands are doing extremely well as well as the top international brands which we are carrying. There is a huge headroom for us to grow. We are in the fast food market and there is no reason why the growth should not come for these brands.
The fund that has been raised via IPO is going to be used for repayment or rather prepayment of all or certain borrowings as well as general corporate purposes. Does this include your expansion plans as well?
The funds are mainly going to be used for repaying debt. The company will practically become debt free after this and the company will generate enough cash for the growth it needs. So, the company will not need to further dilute or borrow for expansion plans.
