Devyani International has announced the approval of a Scheme of Amalgamation involving the merger of its wholly-owned subsidiaries Sky Gate Hospitality, Blackvelvet Hospitality, and Say Chefs Eatery with itself. The decision was made during a board meeting held on 10 March 2026.
The appointed date for the merger is set for the opening hours of 1 April 2025. The amalgamation aims to achieve better business synergies, optimise resource utilisation, reduce operational costs, and increase overall efficiency, thereby maximising value creation for stakeholders.
Devyani International, the largest franchisee of Yum Brands in India, operates over 2,000 stores across more than 280 cities in India and other countries. The transferor companies operate over 100 outlets, including dine-in and cloud kitchens, in more than 40 cities.
The merger will not involve the issuance of new shares, as the transferor companies are wholly-owned subsidiaries of Devyani International. Consequently, no share entitlement ratio or valuation report is required.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
Comments are closed.