Devyani International has completed its acquisition of an additional 11.4% equity stake in Sky Gate Hospitality Private Limited, making it a wholly-owned subsidiary as of March 2026. The total acquisition consideration stood at approximately ₹57.5 crore, funded through a combination of cash and preference share issuance.
The company allotted 3,00,000 non-convertible redeemable preference shares of ₹1,000 each at par value on a private placement basis for an aggregate of ₹30 crore. These shares were allotted to Kaushik Kumar Roy, a promoter and founder of Sky Gate, to discharge part of the acquisition consideration. The allotment followed shareholder approval on March 8, 2026, via postal ballot, with the Share Allotment Committee formalising the issuance on March 9, 2026.
The remaining acquisition consideration of ₹27.5 crore was settled in cash to the founders and promoters of Sky Gate. The transaction marks Devyani’s full consolidation of Sky Gate Hospitality into its subsidiary structure.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by News Desk before publication.