Devyani International Limited has informed the Exchange regarding allotment of 23718413 securities pursuant to Preferential Issue at its meeting held on Jun 10, 2025
DEVYANI · price
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On the reaction day the stock moved 0.5 pts less than Nifty Smallcap 250 and 1.6 pts less than its Restaurants peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Devyani International has allotted 2.37 crore equity shares at INR 176.78 per share (face value INR 1, premium INR 175.78), aggregating to about INR 419.3 crore. This is a non-cash preferential issue used to pay part of the consideration for acquiring an 80.72% stake in Sky Gate Hospitality Private Limited, which has now become a subsidiary along with its three subsidiaries (Blackvelvet Hospitality, Say Chefs Eatery, and Peanutbutter and Jelly). The largest allottee is Alpha Wave Ventures LP (1.12 crore shares), followed by IvyCap Ventures Trust Fund II (26.05 lakh) and IvyCap Ventures Trust Fund III (23.42 lakh). Other notable allottees include Pulsar Foods Holdings, State Bank of India, Ashoka Pte. Ltd, InCred Growth Partners, and Praful Kumar. The company's paid-up share capital has risen from 120.82 crore to 123.19 crore equity shares.
This is a non-cash, acquisition-linked share issuance that will dilute existing shareholders by roughly 2% on a share count basis. The expansion into Sky Gate's brands broadens Devyani's restaurant portfolio but adds integration risk, while the entry of marquee investors like Alpha Wave and IvyCap signals confidence in the deal.