Announced Wed, 1 Jul · 18:26 IST
KFC Thailand acquisition completed; stake in Dubai subsidiary rises to 56.7 percent
DEVYANI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+1.0%1-day move
₹112.94
prior close
₹113.60
base price
After-mkt
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AI summary
Devyani International has completed additional investment in Restaurants Development Co. (RD), which operates KFC stores in Thailand. Subsidiaries DID and Yellow now hold 49 percent and 51 percent in RD. A THB 400 million (about INR 1,148 million) convertible loan to DID was converted to equity, raising Devyani's stake in DID to 56.7 percent. DID has repaid an Axis Bank Dubai loan of about USD 25.5 million and the corporate guarantee was released. Net investment in RD stands at THB 400 million.
Likely market impact
Expands KFC Thailand footprint and lifts stake in Dubai subsidiary to 56.7 percent with limited net cash outlay.