Devyani International Limited announced that the Competition Commission of India (CCI) has approved its proposed scheme of arrangement for the merger with Sapphire Foods India Limited. This approval, received on October 30, 2026, is a significant step forward in the consolidation process. The merger, previously approved by the board and subject to regulatory filings, aims to combine the operations of both entities under Devyani International. The detailed CCI order is still awaited.
CCI Approves Merger of Devyani International and Sapphire Foods
Devyani International Limited has received a crucial approval from the Competition Commission of India (CCI) for its proposed scheme of arrangement. The scheme involves the merger of Sapphire Foods India Limited (Transferor Company) with and into Devyani International Limited (Transferee Company). This approval was intimated to Devyani International via a letter dated October 30, 2026.
Key Regulatory Milestone Achieved
The approval from the CCI signifies a major step towards the completion of the proposed combination under the Competition Act, 2002. Devyani International had previously informed the stock exchanges about the amended scheme of arrangement on August 26, 2026. Following this, a joint application was filed with the CCI on September 10, 2026. The CCI, in its meeting held on October 30, 2026, considered the proposed merger and granted its approval.
While the CCI has intimated its approval, the detailed formal order is expected to be issued separately. This development is a significant positive for the ongoing integration process and is anticipated to create synergies and enhance market presence for the combined entity.
Source: BSE
