Acquisitions18 Jul 2025, 04:51 pm
Devyani International Acquires Additional Stake in Sky Gate Hospitality for ~ Rs. 103.25 Crore
AI Summary
Devyani International Ltd. has completed the acquisition of additional equity stake in Sky Gate Hospitality Private Limited by investing an amount of approximately Rs. 103.25 crore. This investment has increased the company's equity stake in Sky Gate to around 86.13% on a fully diluted basis. The Share Purchase Agreement and Shareholders Agreement were executed with Sky Gate and its Promoters/Founders, and a Share Purchase Agreement was also executed with the Promoters/Founders to acquire the additional equity stake.
Key Highlights
- Devyani International has acquired additional equity stake in Sky Gate Hospitality for ~ Rs. 103.25 crore.
- The company's equity stake in Sky Gate has increased to ~ 86.13% on a fully diluted basis.
- A Share Purchase Agreement and Shareholders Agreement were executed with Sky Gate and its Promoters/Founders.
- A Share Purchase Agreement was also executed with the Promoters/Founders to acquire the additional equity stake.
- The acquisition is in line with Devyani International's growth strategy in the hospitality sector.