Acquisition of additional stake by Sky Gate Hospitality Private Limited in its subsidiaries.
Awaiting price reaction for this filing.
Devyani International's subsidiary Sky Gate Hospitality is buying the remaining equity stake in two of its own subsidiaries, Blackvelvet Hospitality and Say Chefs Eatery, to make them wholly-owned units. Sky Gate will acquire an additional 19% in Blackvelvet (taking its stake to 100%) for up to ₹6.21 crore in cash, and an additional 29% in Say Chefs (also to 100%) for up to ₹12.7 crore in cash. Combined cash outflow is around ₹18.91 crore, with the deals expected to close by July 31, 2025. Blackvelvet, which runs Mughlai/Indian restaurant brands in Mumbai, posted ~₹31.6 crore revenue in FY25, while Say Chefs (owner of the 'Goila Butter Chicken' brand) had ~₹23.7 lakh in revenue. The promoter group has no direct interest and the deals are at arm's length.
This is a consolidation move that gives Devyani full control over two of its step-down subsidiaries, simplifying the group structure and allowing easier decision-making and profit sharing, though the financial impact is small given the modest deal size and limited revenue of Say Chefs. Shareholders are unlikely to see a material stock price reaction, but it strengthens Devyani's F&B portfolio footprint.