The company has signed a Share Subscription Agreement and Shareholders Agreement with Sky Gate and its founders, in addition to a Share Purchase Agreement to acquire more shares from the promoters. This acquisition, expected to be finalized on or before July 31, 2025, will occur through cash consideration and in one or multiple tranches.
Sky Gate Hospitality, currently a subsidiary of Devyani International, boasts a collection of rapidly growing foodservice brands such as ‘Biryani By Kilo’, ‘Goila Butter Chicken’, ‘The Bhojan’, ‘Get-A-Way’, and ‘Krazy Kebab Co.’ As of March 31, 2025, its paid-up capital was ₹20.23 lakh, and its unaudited consolidated turnover (excluding two units) was around ₹277 crore for FY25.
Also Read: Devyani International may see up to 30% rise in stock price, say these brokerages
The additional funding will help enhance Sky Gate’s operations, support further investments in its subsidiaries, and address general corporate requirements.
Although this transaction is classified as a related party transaction due to its subsidiary relationship, the promoter group of Devyani International does not possess any stake in Sky Gate, ensuring the deal is conducted at arm’s length.
Shares of Devyani International Ltd closed at ₹167.10, registering an increase of ₹0.40, or 0.24%, on the BSE.
Also Read: Here’s why Devyani International stock surged by 6% on Wednesday
