Sapphire Foods Board Approves Revised Merger Scheme with Devyani International

Sapphire Foods India Ltd's Board of Directors met on August 26, 2026, to approve a revised scheme of amalgamation with Devyani International Limited. This revision follows the termination of a share purchase agreement between Sapphire Foods Mauritius Limited (SFML) and Arctic International Private Limited. The termination means SFML will now receive Devyani International shares as consideration, similar to other Sapphire Foods shareholders. The revised scheme removes the secondary sale transaction as a condition precedent, ensuring the merger process continues without impacting shareholder ratios. The board also approved an amended merger framework agreement.