Devyani International: Amended Merger Scheme, Secondary Sale Terminated

Devyani International Limited (DIL) has amended its Scheme of Arrangement with Sapphire Foods India Limited (SFIL). The key change is the termination of a secondary sale transaction where Sapphire Foods Mauritius Limited (SFML) was to sell shares to Arctic International Private Limited. Consequently, SFML will now receive DIL shares as per the original scheme ratio, similar to other SFIL shareholders. The share exchange ratio and other terms of the merger remain unchanged. The termination of the secondary sale impacts the post-scheme shareholding of the promoter group. The amended scheme removes the secondary sale as a condition precedent, allowing the merger process to continue subject to approvals.