Devyani and PVR INOX form joint benture for mall food courts in India

In cooperation with PVR INOX, Devyani International announces the incorporation of a new unit, Devyani PVR INOX. In a recent exchange filing, the company shared, “Intimating entering into a Shareholders’ Agreement with PVR INOX Limited (“PVR INOX”), including proposed incorporation of a company, we hereby wish to inform that, a company namely ‘Devyani PVR INOX Private Limited’ has been incorporated on July 26, 2024, inter alia to undertake the business relating to development and operation of food courts situated within shopping malls in India.”

Devyani International Limited and PVR INOX Limited will hold Devyani PVR INOX’s share capital in the ratio of 51:49, as per the filing.

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The goal of Devyani PVR INOX is to explore the opportunities for the long-term development and operation of food courts within Indian shopping malls.

Founded in 1991, Devyani International Limited is a major chain of quick-service restaurants (QSRs) operator in India. Meanwhile, on July 26, 2024, the NSE saw a 1.58% decrease in Devyani International shares, trading at Rs 176.50.