Allotment of Equity Shares of the Company on a preferential basis.
Awaiting price reaction for this filing.
Devyani International has allotted 2.37 crore equity shares (face value INR 1) at INR 176.78 per share, raising about INR 419.3 crore on a preferential, non-cash basis. These shares were issued to discharge part of the purchase price for acquiring an 80.72% stake (on a fully diluted basis) in Sky Gate Hospitality Private Limited. With this allotment, Sky Gate and its three subsidiaries — Blackvelvet Hospitality, Say Chefs Eatery, and Peanutbutter and Jelly — have become subsidiaries of Devyani with immediate effect. Shareholders had approved the move on May 17, 2025, and NSE and BSE gave in-principle approvals on June 9, 2025. A small balance of about INR 0.3 crore will be paid in cash towards withholding tax. The company's paid-up share capital has risen from about 120.82 crore shares to 123.19 crore shares.
Existing shareholders face a small dilution (~2% increase in share count), but the company has added a new hospitality vertical through Sky Gate and its subsidiaries, which will start contributing to consolidated revenues and operations. The deal was funded entirely via equity issuance to the sellers, so there is no cash outflow or debt burden on Devyani.