The company said it has executed a Share Subscription Agreement and Shareholders Agreement with Sky Gate and its founders, as well as a Share Purchase Agreement to acquire additional shares from the promoters. The acquisition, to be completed on or before July 31, 2025, will be done through cash consideration and in one or more tranches.
Sky Gate Hospitality, already a subsidiary of Devyani International, owns a portfolio of fast-growing foodservice brands including ‘Biryani By Kilo’, ‘Goila Butter Chicken’, ‘The Bhojan’, ‘Get-A-Way’, and ‘Krazy Kebab Co.’ As of March 31, 2025, its paid-up capital stood at ₹20.23 lakh and its unaudited consolidated turnover (excluding two units) was around ₹277 crore for FY25.
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The additional investment will be used to strengthen Sky Gate’s operations, support further investments in its subsidiaries, and meet general corporate needs.
While the transaction falls under the category of related party transactions due to the subsidiary relationship, the promoter group of Devyani International does not hold any stake in Sky Gate, and the deal is being executed at arm’s length.
Shares of Devyani International Ltd ended at ₹167.10, up by ₹0.40, or 0.24%, on the BSE.
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