Devyani International has received approval from Board of Directors for acquisition of around 11.4% additional equity stake in Sky Gate Hospitality (Sky Gate) from the Promoters/ Founders of Sky Gate for a total consideration of around Rs 57.5 crore through a mix of cash and issuance of Non-Convertible Redeemable Preference Shares. Upon completion of acquisition, Sky Gate will become a wholly-owned subsidiary of the Company.
The Board of Directors of the Company at its meeting held on February 4, 2026 has approved the same.
Devyani International is the largest franchisee of Yum Brands in India and is among the largest operators of chain quick service restaurants (QSR) in India, on a non-exclusive basis.
