Devyani International Limited has informed the Exchange about additional acquisition of equity stake in Sky Gate Hospitality Private Limited.
DEVYANI · price
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Awaiting price reaction for this filing.
Devyani International has completed the acquisition of an additional ~11.4% equity stake in its subsidiary Sky Gate Hospitality Private Limited, making Sky Gate a wholly-owned subsidiary effective March 7, 2026. The total deal value was about Rs. 57.5 crore, paid partly in cash (Rs. 27.5 crore) and partly through preference shares (Rs. 30 crore). As part of the consideration, the company allotted 3,00,000 Non-convertible Redeemable Preference Shares of Rs. 1,000 each at par on a private placement basis to Mr. Kaushik Kumar Roy, the founder/promoter of Sky Gate. Shareholders had already approved the transaction through a postal ballot on March 8, 2026, and the Share Allotment Committee finalised the issuance on March 9, 2026.
This move gives Devyani International full ownership of Sky Gate Hospitality, giving it complete strategic and operational control. For shareholders, this is a moderately positive signal — it consolidates the subsidiary but involves a Rs. 30 crore equity-like payout, and no immediate material impact on share price is expected.