Sky Gate Hospitality Private Limited Acquires Additional Stake in Subsidiaries Blackvelvet and Say Chefs Eatery Private Limited

Sky Gate Hospitality Private Limited, a subsidiary of Devyani International Ltd, has acquired additional equity stakes in its subsidiaries Blackvelvet and Say Chefs Eatery Private Limited. Upon acquisition, Blackvelvet and Say Chefs would become wholly-owned subsidiaries of Sky Gate. The acquisition is at arm's length and does not involve any related party transactions. The objects and impact of the acquisition include consolidating ownership in the target entities. The expected completion date is before July 31, 2025. The consideration is a cash consideration of up to INR 6.21 crore for Blackvelvet and up to INR 12.7 crore for Say Chefs.