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Devyani International Limited (DIL) is the largest franchisee of Yum Brands in India and is among the largest operators of chainquick service restaurants (QSR) in India. In addition, DIL is a franchisee for the Costa Coffee brand and stores in India.
Devyani International's board approved an amended merger scheme with Sapphire Foods, removing a condition for a secondary sale of 5.94 Cr SFIL shares. This ensures the merger proceeds as planned, without impact on DIL/SFIL shareholders. Post-merger, DIL's promoter group shareholding revises to 41.99%.
Devyani International's board approved an updated merger plan with Sapphire Foods. A prior condition involving a secondary share sale was terminated, streamlining the merger. The share exchange ratio remains unchanged. Post-merger, DIL's promoter shareholding will be 41.99%.