Devyani International: Merger Scheme Amended Post SPA Termination

Devyani International Limited (DIL) announced an amendment to its Scheme of Arrangement for amalgamation with Sapphire Foods India Limited (SFIL). The Share Purchase Agreement (SPA) for the secondary sale of SFIL shares by Sapphire Foods Mauritius Limited (SFML) to Arctic International Private Limited has been terminated by mutual agreement. Consequently, SFML will receive DIL shares as per the original scheme, similar to other SFIL shareholders. The termination of the secondary sale transaction means the condition precedent for the scheme's effectiveness has been removed. The share exchange ratio and other terms of the scheme remain unchanged. The company also provided updated post-scheme shareholding patterns.