Devyani International Limited (DIL) finalized the acquisition of the remaining stake in its subsidiary, Sky Gate Hospitality Private Limited, making it a wholly-owned entity effective March 7, 2026. To partially fund the ~₹57.5 crore deal, DIL allotted 3,00,000 Non-convertible Redeemable Preference Shares valued at ₹30 crore to promoter Mr. Kaushik Kumar Roy. The remaining ~₹27.5 crore was settled in cash.
Finalization of Sky Gate Acquisition
Devyani International Limited (DIL) announced the completion of the acquisition of an additional ~11.4% equity stake in Sky Gate Hospitality Private Limited, its subsidiary. Following this transaction, Sky Gate has become a wholly-owned subsidiary of DIL, effective from March 7, 2026.
Share Allotment Details
The acquisition involved a total consideration of up to ~₹57.5 crore, which was settled via a mix of cash and equity. Pursuant to shareholder approval obtained via Postal Ballot on March 8, 2026, the Share Allotment Committee held a meeting on March 9, 2026.
During this meeting, the Committee allotted 3,00,000 fully paid-up Non-convertible Redeemable Preference Shares. These shares have a face value of Rs. 1,000 each at par, resulting in an aggregate allotment value of ~Rs. 30 crore. These preference shares were issued on a private placement basis to Mr. Kaushik Kumar Roy, a promoter/founder of Sky Gate, to discharge part of the consideration.
Payment Breakdown
The remaining consideration for the acquisition, amounting to ~Rs. 27.5 crore, was paid in cash to the Founders/Promoters of Sky Gate. The company confirmed that this disclosure is also available on its official website.
Source: BSE
