Devyani International has completed the acquisition of additional around 11.4% equity stake in Sky Gate Hospitality (Sky Gate) from the Promoters/ Founders of Sky Gate for total consideration of around Rs 57.50 crore. Consequently, Sky Gate has become a wholly-owned subsidiary of the company with effect from March 7, 2026.
Additionally, the Share Allotment Committee of the Board of Directors of the company at its meeting held on March 9, 2026 has allotted 3,00,000 Non-convertible Redeemable Preference Shares of Rs 1,000 each at par, on a private placement basis for an aggregate amount of around Rs 30 crore, to Kaushik Kumar Roy, promoter/ founder of Sky Gate, to discharge the part consideration towards the acquisition of additional equity stake in Sky Gate. Further, the remaining consideration of around Rs 27.50 crore has been paid in cash to the Founders/ Promoters of Sky Gate. The shareholders of the company on March 8, 2026 have also approved the same. Earlier, the company’s Board of Directors at its meeting held on February 4, 2026 had approved the said acquisition.
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.
