Devyani International (DIL), the largest franchisee operator of Pizza Hut, KFC, and Costa Coffee is expecting to turn profitable this fiscal year if there is no third wave of Covid-19 pandemic.
On Wednesday, the company opened its initial public offer (IPO) of Rs. 1,838 crores. The Chairman of RJ Corp, promoter of DIL, Ravi Jaipuria informed Economic Times.
He added, “Demand over the next few quarters will depend on availability, lockdowns, and operating hours. Overall, our objective is to reduce the company’s debt to strengthen our balance sheet for future expansion and business development.”