Devyani International Completes Acquisition of Additional 11.4% Stake in Sky Gate Hospitality for ~ Rs. 57.5 Crore

Devyani International Ltd has completed the acquisition of an additional 11.4% equity stake in its subsidiary, Sky Gate Hospitality Private Limited, from the promoters/founders for a total consideration of approximately Rs. 57.5 crore. The consideration was paid through a mix of cash and issuance of Non-Convertible Redeemable Preference Shares. Post the acquisition, Sky Gate has become a wholly-owned subsidiary of Devyani International w.e.f. March 7, 2026. The Company allotted 3,00,000 Non-convertible Redeemable Preference Shares of Rs. 1,000 each at par, on a private placement basis, to Mr. Kaushik Kumar Roy, promoter/ founder of Sky Gate, for an aggregate amount of ~ Rs. 30 crore. The remaining consideration of ~ Rs. 27.5 crore was paid in cash to the Founders/ Promoters of Sky Gate.