Sapphire Foods India Limited has informed the Exchange regarding a press release dated January 01, 2026, titled "Press Release".
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Sapphire Foods India Limited (SFIL) will merge with and into Devyani International Limited (DIL) through a share-swap deal, with 177 DIL shares to be issued for every 100 SFIL shares. Arctic International, a group company, will also acquire about 18.5% of SFIL's paid-up equity from existing promoters. Post-merger, DIL will become the single unified Yum! Brands franchisee in India for both KFC and Pizza Hut, adding SFIL's 1,000+ restaurants to DIL's 2,000+ store network across 280+ cities. The deal is subject to approvals from stock exchanges, the Competition Commission of India, NCLT, shareholders, and creditors, and is expected to take 12-15 months. Annual synergies of INR 210-225 crores are projected from the second full year of integrated operations.
This is a major consolidation move that creates India's largest QSR operator for KFC and Pizza Hut. SFIL shareholders will become shareholders of the larger merged entity, gaining exposure to stronger scale, improved margins, and a wider portfolio, though the deal remains subject to multiple regulatory approvals over the next year or more.