Sapphire Foods Board Clears Merger With Devyani International and Plans Shift of Registered Office to Haryana

The latest update is out from Sapphire Foods India Ltd. ( (IN:SAPPHIRE) ).

Sapphire Foods India’s board has approved a scheme of arrangement under which the company will be amalgamated into fellow QSR operator Devyani International Limited, effective from an appointed date of April 1, 2026, subject to a series of regulatory, shareholder, creditor and competition approvals. As consideration, Devyani International will issue 177 fully paid equity shares of Re 1 each for every 100 fully paid equity shares of Rs 2 each held in Sapphire Foods, while a related secondary sale of about 18.5% of Sapphire’s equity from Sapphire Foods Mauritius to Arctic International (or an assigned financial investor) is also envisaged as a condition to the merger, and the companies have additionally entered into a merger framework agreement and a binding term sheet with Yum group entities to govern franchise arrangements post-combination. Separately, Sapphire Foods’ board has cleared a proposal to shift the company’s registered office from Maharashtra to Haryana, along with an amendment to its memorandum of association, with the move to be implemented through a postal ballot and requiring central government and other statutory approvals, signalling an impending change in its legal and administrative base ahead of the proposed merger integration.

More about Sapphire Foods India Ltd.

Sapphire Foods India Limited is a quick-service restaurant operator in India, running major global franchise brands in the domestic market. The company is listed on BSE and NSE and operates within the organised food services/QSR industry, targeting consumers across urban and semi-urban locations through its network of branded outlets.

Average Trading Volume: 26,223

Technical Sentiment Signal: Sell

Current Market Cap: 79.38B INR

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