STOCKWATCH

Devyani International to Acquire Controlling Stake in Sky Gate Hospitality

Devyani International Ltd. has announced that its Board of Directors will meet on April 24, 2025, to consider and approve the definitive agreements for the acquisition of a controlling equity stake in Sky Gate Hospitality Private Limited. Sky Gate Hospitality operates restaurants under the brand ‘Biryani by Kilo’ and other brands. The acquisition will be facilitated through the issuance of equity shares of the company on a preferential basis, subject to the approval of equity shareholders at an extra-ordinary general meeting.

• Devyani International Ltd. to acquire controlling equity stake in Sky Gate Hospitality Private Limited
• Sky Gate Hospitality operates restaurants under the brand ‘Biryani by Kilo’ and other brands
• Acquisition to be facilitated through the issuance of equity shares on a preferential basis
• Issuance of equity shares subject to approval of equity shareholders at an extra-ordinary general meeting
• Meeting of the Board of Directors scheduled on April 24, 2025