Devyani International Ltd

Devyani International Acquires Full Stake in Sky Gate Hospitality 🍽️📈

- Devyani International acquired an additional ~11.4% equity stake in Sky Gate Hospitality for INR 57.5 crore, making it a wholly-owned subsidiary.

- The acquisition will be completed by March 31, 2026, with payment split as ~INR 27.5 crore in cash and ~INR 30 crore via issuance of 300,000 non-convertible redeemable preference shares.

- Sky Gate operates in the food and beverages industry, with an audited consolidated turnover of INR 277 crore in FY 2024-25 (excluding Krazy Kebab Co. and Peanutbutter).

- The company plans to reclassify its authorized share capital from INR 567.5 crore to 467.5 crore equity shares of Re. 1 each and 100,000 preference shares of INR 1,000 each, subject to shareholder approval.