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The latest update is out from Devyani International Ltd. ( (IN:DEVYANI) ).
Devyani International Ltd. has announced that its subsidiary, Sky Gate Hospitality Private Limited, has completed the sale of its entire 51% equity stake in Peanutbutter and Jelly Private Limited to Heritage Foods Limited, resulting in Peanutbutter ceasing to be a subsidiary of Sky Gate and a step-down subsidiary of Devyani. The transaction marks an exit from this particular investment, simplifying Devyani’s subsidiary structure and potentially allowing the company to reallocate capital and management focus towards its core quick-service restaurant operations and more strategic growth areas within its portfolio.
More about Devyani International Ltd.
Devyani International Ltd. operates in the quick-service and casual dining restaurant sector in India, primarily as a franchisee of major global foodservice brands. Through its subsidiaries, it manages a portfolio of food and beverage outlets, using step-down subsidiaries to hold and operate specific business units and joint ventures in the hospitality and food retail space.
Average Trading Volume: 257,578
Technical Sentiment Signal: Sell
Current Market Cap: 171.2B INR
See more data about DEVYANI stock on TipRanks’ Stock Analysis page.