It would be wise to book some profit at least 50% of the shares allotted and hold the remaining shares for the long-term.
On the BSE, Devyani International opened for trading at Rs 141, at a premium of 56.67% or Rs 51 over its issue price of Rs 90 per share.
The public offer received bids of 13,13,77,99,700 shares against the offered 11,25,69,719 equity shares.
The company has fixed a price band of Rs 86-90 a share for its IPO and at the upper end, the public issue is expected to fetch Rs 1,838 crore
Ahead of the IPO, shares of Devyani International are quoting at Rs 152 apiece in the grey market marking a premium of 68.89%
The price band for quick-service restaurant operator has been fixed at Rs 86-90 per share. The issue opens on August 4 and closes on August 6.