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Sapphire Foods’ arm gets nod to subscribe additional stake in Gamma Island Food

22 Feb 2023 Evaluate

Sapphire Foods’ wholly-owned subsidiary -- Gamma Pizzakraft (Overseas) (GPOPL) has received approval from Board of Directors for subscription of upto 81,914 Equity Shares of Gamma Island Food (GIFPL), subsidiary of GPOPL and step-down subsidiary of the Company, for a total consideration of upto Maldivian Rufiyaa 18,840,220. Pursuant to this proposed acquisition, the equity shareholding of GPOPL in GIFPL will be increased from the existing 51% up to 75%. 

The objective of proposed acquisition is to, inter-alia, principally support GFIPL in its business expansion (opening of new stores) plan in Maldives and to further consolidate shareholding in GFIPL. The business of the step-down subsidiary is in line with the business of the Company.

Sapphire Foods India is an omnichannel restaurant operator and the largest franchisee of Yum Brands in the Indian subcontinent.

Sapphire Foods India Share Price

183.75 -4.30 (-2.29%)
08-May-2026 16:59 View Price Chart
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