Devyani International Limited has informed the Exchange about acquisition of additional stake in Sky Gate Hospitality Private Limited
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Devyani International Limited has completed the acquisition of an additional equity stake in Sky Gate Hospitality Private Limited by investing approximately Rs. 103.25 crore. With this acquisition, the company's equity stake in Sky Gate has increased to around 86.13% on a fully diluted basis. This is a continuation of a prior intimation dated June 23, 2025, when the company had executed the Share Purchase Agreement and Shareholders Agreement with Sky Gate and its promoters/founders. Sky Gate Hospitality now appears to be effectively a subsidiary of Devyani International given the high ownership level.
The increased ownership strengthens Devyani International's control over Sky Gate Hospitality, consolidating it as a near-subsidiary. Shareholders should watch for further disclosures on how Sky Gate will be integrated and its contribution to the company's financials going forward.