Devyani International to Invest INR 1,148 Mn in Restaurants Development Co., Ltd., Operating KFC Restaurants in Thailand

Devyani International Ltd. has announced an investment of approximately INR 3,473 Mn (~ THB 1,210 Mn) in Restaurants Development Co., Ltd. (RD), a chain of 274 KFC restaurants in Thailand. The investment will be made through Devyani International DMCC (DID) and Yellow Palm Co., Ltd. (Yellow), subsidiaries of the company. The investment will partially retire DID debt and fund RD's working capital and capex requirements. The net investment by the Group will be approximately INR 1,148 Mn (~ THB 400 Mn). DID will raise a convertible loan from the company and a short-term loan from Axis Bank Limited, Dubai, secured by a corporate guarantee of the company.