Devyani International Limited (DIL) has approved the acquisition of approximately 11.4% additional equity stake in Sky Gate Hospitality Private Limited (‘Sky Gate’) for approximately INR 57.5 crore. Following the acquisition, Sky Gate will become a wholly-owned subsidiary. DIL also approved the issuance of Non-Convertible Redeemable Preference Shares to the promoter of Sky Gate.
Sky Gate Stake Acquisition
Devyani International Limited is set to increase its control over Sky Gate Hospitality Private Limited (‘Sky Gate’). The company’s Board of Directors has approved the acquisition of approximately 11.4% additional equity stake from Sky Gate’s promoters/founders. The deal is valued at approximately INR 57.5 crore.
Deal Structure
The INR 57.5 crore consideration will be met through a combination of cash and the issuance of Non-Convertible Redeemable Preference Shares. Upon completion of this acquisition, Sky Gate will transition into a wholly-owned subsidiary of Devyani International Limited.
Preference Share Issuance
As part of the deal, Devyani International will issue and allot up to 3,00,000 fully paid-up Non-convertible Redeemable Preference Shares, each with a face value of INR 1,000, aggregating to approximately INR 30 crore, to the promoter/founder of Sky Gate. The allotment will be conducted on a private placement basis.
Sky Gate Details
Sky Gate Hospitality Private Limited is primarily involved in the food and beverage industry. As of December 31, 2025, Sky Gate’s paid-up share capital stood at approximately INR 23.36 lakh. For the financial year ending March 31, 2025, the consolidated turnover (excluding specific entities) was approximately INR 277 crore.
Source: BSE
