Scrutiniser Report
Awaiting price reaction for this filing.
Devyani International Limited (RJ Corp's QSR and food company, operator of brands like Vaango) held an Extra-ordinary General Meeting on May 17, 2025 via Webex/NSDL, attended by 241 members. A single special resolution was transacted: approval to issue up to 2,37,19,187 fully paid-up equity shares (face value INR 1) at INR 176.78 per share (premium of INR 175.78), on a preferential basis, for consideration other than cash — implying an aggregate deal value of roughly INR 419 crore. Voting results showed overwhelming approval with 99.9484% (1,09,95,20,133 shares) voting in favour and only 0.0516% (5,67,512 shares) against. The company's current paid-up equity capital stands at INR 1,20,62,66,378 divided into 1,20,62,66,378 shares, so the proposed issuance represents roughly 1.97% dilution if fully allotted.
The preferential issue for non-cash consideration (likely an acquisition or share-swap transaction) will result in a small ~2% dilution for existing shareholders. The near-unanimous approval signals strong investor and promoter confidence in the deal, though the identity of the allottee and the asset being acquired are not disclosed in this filing.