Devyani International Limited has informed the Exchange regarding 'Acquisition of additional stake by Sky Gate Hospitality Private Limited in its subsidiaries'.
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Devyani International's subsidiary Sky Gate Hospitality is buying out the remaining minority shareholders in two step-down subsidiaries. It will acquire an additional 19% stake in Blackvelvet Hospitality (going from ~81% to 100%) for up to ₹6.21 crore, and an additional 29% stake in Say Chefs Eatery (going from ~71% to 100%) for up to ₹12.7 crore. Blackvelvet runs Mughlai and Indian cuisine restaurants in Mumbai with FY25 revenue of ~₹31.6 crore, while Say Chefs owns the 'Goila Butter Chicken' brand and operates cloud kitchens with FY25 revenue of ~₹0.24 crore. The deals are arm's length cash transactions with no promoter involvement, expected to close by July 31, 2025.
This is a consolidation move that gives Devyani's subsidiary Sky Gate full ownership of both brands at a modest combined cost of ~₹18.9 crore, simplifying the corporate structure and allowing easier integration of the Goila Butter Chicken and Blackvelvet restaurant brands into Devyani's broader portfolio. For shareholders, the financial impact is small but signals continued brand-building in the food and beverages space.