Devyani International Increases Stake in DID to 56.7%

Devyani International Ltd (DIL) has announced an update on its acquisition and investment activities. The company's subsidiaries, DID and Yellow, have completed additional investments in Restaurants Development Co. (RD), maintaining their 49% and 51% shareholding respectively. DIL has also received approval for the conversion of a THB 400 Mn loan into equity for DID, which will increase DIL's shareholding in DID from approximately 51% to 56.7%. Furthermore, DID has fully repaid a short-term loan of USD 25.50 million from Axis Bank, and DIL's corporate guarantee has been released. The net investment in RD amounts to approximately THB 400 Mn (INR 1,148 Mn).