Devyani International to Merge Sapphire Foods, Acquire Yum India KFC Stores and Shift Registered Office to Haryana

Devyani International Ltd. ( (IN:DEVYANI) ) has issued an announcement.

Devyani International Limited’s board has approved a Scheme of Arrangement to amalgamate Sapphire Foods India Limited into Devyani, with Sapphire shareholders to receive 177 fully paid equity shares of Devyani (face value Re 1 each) for every 100 fully paid equity shares of Sapphire (face value Rs 2 each). The merger, governed by a Merger Framework Agreement among Devyani, Sapphire, RJ Corp and other promoter entities, is subject to multiple regulatory and stakeholder approvals, including the Competition Commission of India, stock exchanges and the National Company Law Tribunal, and will become effective only after an 18.5% stake in Sapphire is transferred by Sapphire Foods Mauritius to group firm Arctic International or an agreed financial investor. In tandem, Devyani and Sapphire have signed a binding term sheet with various Yum! group entities to acquire 19 KFC stores owned by Yum Restaurants (India) and to formalize the structure of their current and future business arrangements with Yum in India, contingent on NCLT approval of the merger. Separately, Devyani’s board has cleared a proposal to shift the company’s registered office from the National Capital Territory of Delhi to the state of Haryana, along with a corresponding change to the “Situation Clause” in its Memorandum of Association, for which shareholder consent will be sought via postal ballot, signaling an operational and administrative realignment alongside the strategic consolidation move.

More about Devyani International Ltd.

Devyani International Limited operates in the quick-service restaurant (QSR) industry, managing major global franchise brands such as KFC, Pizza Hut and Taco Bell in India and other markets. The company focuses on fast-growing food-service segments, leveraging brand partnerships and an expanding store network to strengthen its presence in the organized QSR space.

Average Trading Volume: 189,105

Technical Sentiment Signal: Sell

Current Market Cap: 175.6B INR

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