Devyani International Limited (DIL) has announced the acquisition of an additional 11.4% equity stake in Sky Gate Hospitality Private Limited. The deal, valued at approximately INR 57.5 crore, will be a mix of cash and issuance of Non-Convertible Redeemable Preference Shares. Post-acquisition, Sky Gate will become a wholly-owned subsidiary of DIL, strengthening DIL’s portfolio in the food and beverage sector.
Sky Gate Stake Acquisition
Devyani International Limited (DIL) is set to increase its ownership in Sky Gate Hospitality Private Limited with the acquisition of an additional equity stake. The Board of Directors approved the acquisition on February 4, 2026. This move will solidify Sky Gate as a wholly-owned subsidiary of DIL.
Deal Terms
The total consideration for the 11.4% stake is approximately INR 57.5 crore. The payment structure involves a combination of cash and the issuance of Non-Convertible Redeemable Preference Shares to the Promoters/Founders of Sky Gate.
Preference Share Issuance
As part of the deal, DIL will issue up to 3,00,000 Non-convertible Redeemable Preference Shares, each with a face value of INR 1,000, amounting to approximately INR 30 crore. These shares will be allotted to the promoter/founder of Sky Gate on a private placement basis to complete the purchase consideration.
Authorized Share Capital Reclassification
The company is reclassifying its authorized share capital. Previously, it was Rs. 5,67,50,00,000 divided into equity shares and preference shares. Post re-classification, it will be Rs. 5,67,50,00,000 divided into 4,67,50,00,000 Equity Shares of Re. 1/- each and 10,00,000 Preference Shares of Rs. 1,000/- each.
Source: BSE
