Devyani International Ltd updates on acquisition of Sky Gate and Blackvelvet

Devyani International Limited had earlier announced about the acquisition of 80.72% equity stake, on a fully diluted basis, in Sky Gate Hospitality Private Limited ("Sky Gate") along with its subsidiaries i.e. (a) Blackvelvet Hospitality Private Limited ('Blackvelvet'); (b) Say Chefs Eatery Private Limited ('Say Chefs'); and (c) Peanutbutter and Jelly Private Limited ('Peanutbutter'). Post the said acquisition, Sky Gate, Blackvelvet, Say Chefs and Peanutbutter have become subsidiaries of the Company w.e.f. June 10, 2025.

The Company has received an email dated June 28, 2025 from Sky Gate intimating that Sky Gate has today executed the (a) Share Purchase Agreement(s) with Blackvelvet and its Selling Shareholders; and (b) Share Purchase Agreement(s) with Say Chefs and its Selling Shareholders for acquisition of additional equity stake in Blackvelvet and Say Chefs, respectively. Upon acquisition of additional equity stakes, Blackvelvet and Say Chefs would become wholly-owned subsidiaries of Sky Gate.



Say Chefs Eatery Private Limited ('Say Chefs'), a stepdown subsidiary of the Company. [Acquisition of additional equity stake in Say Chefs by Sky Gate, a subsidiary of the Company] Say Chefs owns brand 'Goila Butter Chicken' and is in the business of setting up and operating restaurant and cloud kitchen to provide an overall curated culinary experience.

Blackvelvet Hospitality Private Limited ('Blackvelvet'), a step-down subsidiary of the Company. [Acquisition of additional equity stake in Blackvelvet by Sky Gate Hospitality Private Limited ('Sky Gate'), a subsidiary of the Company] Blackvelvet is in the business of home delivery and dine-in restaurants serving Mughlai and Indian cuisine, biryani, kebabs, kormas and Indian desserts etc. It has operations in Mumbai.

Shares of Devyani International Ltd was last trading in BSE at Rs. 171.30 as compared to the previous close of Rs. 171.75. The total number of shares traded during the day was 14858 in over 345 trades.

The stock hit an intraday high of Rs. 173.30 and intraday low of 170.95. The net turnover during the day was Rs. 2549963.00.

Source : Equity Bulls

Keywords

DevyaniInternational Restaurants INE872J01023 Acquisition SkyGate Blackvelvet SayChefs Peanutbutter