Devyani International Limited announced on February 4, 2026, that its Board of Directors has approved the acquisition of an additional 11.4% equity stake in Sky Gate Hospitality Private Limited ('Sky Gate') from its promoters/founders. The total consideration for this acquisition is approximately ₹57.5 crore, to be paid through a mix of cash and the issuance of Non-Convertible Redeemable Preference Shares. Upon completion of this acquisition, Sky Gate will become a wholly-owned subsidiary of Devyani International. The company also approved the re-classification of its authorized share capital and consequential amendment in the Memorandum of Association, subject to shareholder and other necessary approvals. The consideration of ₹57.5 crore will be paid as ₹27.5 crore in cash and ₹30 crore through the issuance of 3,00,000 fully paid-up Non-Convertible Redeemable Preference Shares of ₹1,000 each on a private placement basis. The acquisition of the additional stake in Sky Gate is expected to be completed by March 31, 2026. Additionally, the Board approved the issuance and allotment of up to 3,00,000 fully paid-up Non-convertible Redeemable Preference Shares of ₹1,000 each, aggregating to approximately ₹30 crore, to the promoter/founder of Sky Gate to discharge the purchase consideration. This will be done on a private placement basis, subject to shareholder approval. The company will also issue a notice of Postal Ballot to seek approval from its Equity Shareholders for these proposals.
