Devyani International Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/04/2025 ,inter alia, to consider and approve the definitive agreements ....
DEVYANI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Devyani International's Board is scheduled to meet on April 24, 2025 to consider and approve definitive agreements for acquiring a controlling equity stake in Sky Gate Hospitality Private Limited, which runs the 'Biryani by Kilo' restaurant brand and other brands. The purchase consideration will be discharged partly or fully by issuing equity shares of Devyani on a preferential basis to the sellers. The share issuance will additionally require shareholder approval at an extraordinary general meeting (EGM). The intimation has been filed under SEBI LODR Regulation 29(1)(d), which is the standard advance notice requirement before any material decision is taken by the Board.
If approved, this will be a strategic expansion of Devyani's restaurant portfolio into the premium biryani delivery segment, funded via equity dilution rather than cash. Existing shareholders should expect some dilution once the EGM approves the preferential allotment, while the deal broadens Devyani's food brand footprint beyond its core Pizza Hut and KFC businesses.