The foray into Thailand market sparked a rally in the stock on Tuesday as it surged as much as 7.62 per cent to hit an intraday high of Rs 196.50 per share | Image:Pixabay
Devyani International Limited (DIL) has forayed into the competitive Thailand KFC market through the acquisition of an equity stake in Restaurants Development Co Ltd Thailand (RD) for Rs 340 crore.
The foray into Thailand market sparked a rally in the stock on Tuesday as it surged as much as 7.71 per cent to hit an intraday high of Rs 197.45 per share.
The deal, valued at 0.9 times FY23 enterprise value to sales (EV/sales) and 8 times FY23 EV to EBITDA, positions DIL as a key player in the Thailand Quick Service Restaurant (QSR) sector, unlocking a new growth engine for the company, according to a report by Motilal Oswal.
DIL’s acquisition of RD, with a deal value lower than earlier explorations at $130 million, marks…
