Devyani International Limited has informed the Exchange regarding a press release dated January 01, 2026, titled "Press Release".
DEVYANI · price
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Devyani International Limited (DIL) and Sapphire Foods India Limited (SFIL) have approved a scheme of merger where SFIL will merge into DIL through a share-swap mechanism. The swap ratio is 177 equity shares of DIL for every 100 equity shares of SFIL. Arctic International, a group company, will acquire about 18.5% of SFIL's paid-up equity from existing SFIL promoters, with an option to assign to a financial investor. DIL will also acquire 19 KFC restaurants currently operated by Yum! India in Hyderabad, and pay a one-time charge to Yum! for merger approval and additional territory license fees. Yum! Brands has approved the consolidation, reinforcing DIL as its sole and largest franchise partner for KFC and Pizza Hut in India. The merger is expected to generate annual cost synergies of INR 210–225 crores from the second full year of integrated operations, with full integration taking 15–18 months from the effective date. The transaction is subject to approvals from stock exchanges, the Competition Commission of India, NCLT, and shareholders and creditors of both companies, and is expected to take 12–15 months to complete.
This is a major consolidation that will create one of India's largest quick-service restaurant (QSR) operators, combining DIL's 2,000+ store network with SFIL's 1,000+ restaurants, giving DIL franchise rights across the entire Indian market for KFC and Pizza Hut. For DIL shareholders, the deal brings scale benefits, cost efficiencies, margin expansion, and stronger negotiating power with vendors and landlords, though the benefits are back-end loaded and subject to execution risk and regulatory approvals over the next 12–15 months.