Devyani International to amalgamate with Sapphire Foods India
Devyani International Limited (DIL) announced a significant Scheme of Arrangement where Sapphire Foods India Limited (SFIL) will be amalgamated with and absorbed into DIL. The Board of Directors of DI...
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Why is Devyani International Limited in the news today?
Devyani International Limited (DEVYANI) is in the news due to the amalgamation and acquisition are expected to create economies of scale, enhance operational efficiencies, and strengthen the company's market position, which are positive developments.
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Devyani International to amalgamate with Sapphire Foods India
January 1, 2026, 03:53 PM
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Devyani International Limited (DIL) announced a significant Scheme of Arrangement where Sapphire Foods India Limited (SFIL) will be amalgamated with and absorbed into DIL. The Board of Directors of DIL approved this scheme on January 1, 2026. Upon effectiveness, DIL will issue 177 equity shares of Re. 1 each for every 100 equity shares of Rs. 2 each held by SFIL shareholders.
The amalgamation is subject to various regulatory approvals, including from the Competition Commission of India, stock exchanges, shareholders, and the National Company Law Tribunal (NCLT). The appointed date for the amalgamation is April 1, 2026.
In parallel, DIL and SFIL have entered into a binding term sheet with Yum! Restaurants (India) Private Limited and others to acquire 19 KFC stores owned by Yum India for ₹90 crore. Additionally, a payment of ₹320 crore will be made for granting rights for the merger and additional territory rights.
The company's Board also approved shifting its registered office from Delhi to Haryana, subject to shareholder and regulatory approvals. The net worth of DIL as of March 31, 2025, was ₹10,381.02 crore with a turnover of ₹33,493.33 crore. SFIL's net worth was ₹13,269.93 crore with a turnover of ₹24,510.76 crore.
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