Outcome/Proceedings of the EGM of the Company
Awaiting price reaction for this filing.
Devyani International Limited held an Extra-ordinary General Meeting (EGM) on May 17, 2025, via Webex, attended by 241 members. The meeting lasted 40 minutes (11:00 AM to 11:40 AM). The sole agenda item was a Special Resolution to approve the issuance of up to 2,37,19,187 fully paid-up equity shares of INR 1 each at INR 176.78 per share (including a premium of INR 175.78), on a preferential basis and for consideration other than cash. The resolution was passed with overwhelming approval, with 99.9484% of valid votes in favour and only 0.0516% against. Both remote e-voting (May 14–16) and e-voting during the EGM were facilitated through NSDL. The Scrutinizer's Report was issued by M/s Sanjay Grover & Associates confirming the outcome.
Shareholders have approved a preferential equity issuance that will increase the share capital by up to about 1.97% (2.37 crore new shares on a base of ~120.6 crore shares). The issue is for non-cash consideration, likely linked to an acquisition or strategic transaction, which may lead to equity dilution for existing shareholders once the shares are allotted.