Devyani International Limited has informed the Exchange regarding Outcome of Board Meeting held on March 10, 2026.
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Devyani International Limited's board, at its March 10, 2026 meeting, approved a Scheme of Amalgamation to merge three of its wholly-owned subsidiaries — Sky Gate Hospitality, Blackvelvet Hospitality, and Say Chefs Eatery — into itself. The appointed date is April 1, 2025. Since these are wholly-owned subsidiaries, no new shares will be issued and no share exchange ratio is required, meaning existing shareholders face no dilution. The combined turnover of the three transferor companies is around Rs 2,975 million (with Sky Gate contributing ~Rs 2,658 million), and they operate 100+ outlets across 40+ cities. The scheme is aimed at achieving synergies, reducing costs and corporate layers, and improving efficiency. It still needs NCLT and other regulatory approvals.
This is an internal restructuring of wholly-owned subsidiaries, so there is no impact on shareholding, no share dilution, and no open offer trigger. Shareholders should view this as a cost-saving and efficiency move with no direct material impact on the stock price, though NCLT approval remains a procedural milestone.