Acquisitions23 Jun 2025, 07:20 pm
Devyani International Ltd Acquires Additional Equity Stake in Sky Gate Hospitality Private Limited
AI Summary
Devyani International Ltd has executed Share Subscription Agreement and Shareholders Agreement with Sky Gate Hospitality Private Limited and its Promoters/ Founders. The company will acquire additional equity stake in Sky Gate in one or more tranches. This acquisition will make Sky Gate's subsidiaries and operations a part of Devyani International's subsidiaries. The acquisition is expected to be completed by July 31, 2025, and the consideration is up to Rs. 106.25 crore. Post-acquisition, Devyani International's equity stake in Sky Gate will increase to ~ 86.13%, on a fully diluted basis.
Key Highlights
- Devyani International Ltd to acquire additional equity stake in Sky Gate Hospitality Private Limited
- Acquisition to be completed by July 31, 2025
- Consideration up to Rs. 106.25 crore
- Post-acquisition, Devyani International's equity stake in Sky Gate will increase to ~ 86.13%
- Sky Gate along with its subsidiaries owns brands like 'Biryani By Kilo', 'Goila Butter Chicken', 'The Bhojan', 'Get-A-Way' and 'Krazy Kebab Co.'