Sapphire Foods Board Clears Merger with Devyani International and Plans Registered Office Shift

Sapphire Foods India Ltd. ( (IN:SAPPHIRE) ) has issued an announcement.

Sapphire Foods India Limited’s board has approved a scheme of arrangement for the amalgamation of Sapphire Foods (as transferor company) into Devyani International Limited, under which Sapphire shareholders will receive 177 fully paid equity shares of Devyani for every 100 fully paid equity shares of Sapphire held, subject to multiple statutory, regulatory and stakeholder approvals. The transaction framework includes a merger framework agreement among Sapphire, Devyani, Sapphire Foods Mauritius, QSR Management Trust’s trustee Sagista Realty Advisors and RJ Corp, a conditional secondary sale of about 18.5% of Sapphire’s equity by Sapphire Foods Mauritius to Arctic International (or its assigned financial investor), a binding Yum India term sheet with key Yum group franchising entities, and the proposed shift of Sapphire’s registered office from Maharashtra to Haryana via an amendment to its Memorandum of Association to be approved by shareholders and regulators, signaling a major structural consolidation and corporate reorganization within India’s QSR space.

More about Sapphire Foods India Ltd.

Sapphire Foods India Limited operates in the quick-service restaurant (QSR) industry in India, serving as a major franchisee for global brands such as KFC, Pizza Hut and Taco Bell, with a focus on the Indian and regional South Asian markets. The company runs extensive restaurant operations and is part of a broader QSR ecosystem that includes international franchisors and regional holding entities.

Average Trading Volume: 26,223

Technical Sentiment Signal: Sell

Current Market Cap: 79.38B INR

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