Devyani International Limited — Board Meeting, 24-04-2025: Outcome of Board Meeting

The Board of Directors of Devyani International Limited has approved the acquisition of up to 80.72% equity stake in Sky Gate Hospitality Pvt Ltd, including its subsidiaries. This deal involves issuing about 2.37 crore equity shares at ₹176.78 per share, amounting to approximately ₹419.31 crore, as part of the total consideration. An Extraordinary General Meeting is scheduled for May 17, 2025, to seek shareholder approval for the preferential issue. The acquisition is expected to enhance the company’s portfolio in the food and beverages sector, making Sky Gate a subsidiary post-transaction.