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 Private Limited, a company known for its food brands like ‘Biryani By Kilo’ and ‘Goila Butter Chicken’. The approved acquisition, valued at approximately ₹419.31 crore, will be financed partly through the issuance of up to 2.37 crore fully paid equity shares at ₹176.78 per share. The acquisition aims to enhance the company’s portfolio and expand its presence in the food and beverages industry. An Extraordinary General Meeting is scheduled for May 17, 2025, to obtain shareholder approval for this preferential issue.