Devyani International to merge three subsidiaries with parent company

Group 1 - Devyani International (DIL) plans to merge its three subsidiaries—Sky Gate Hospitality, Blackvelvet Hospitality, and Say Chefs Eatery—into the parent company to enhance operational efficiency, effective from April 1, 2025 [1][3] - The merger will not require a 'No Objection Letter' from stock exchanges as the subsidiaries are wholly owned, and no new shares will be issued, maintaining the existing shareholding pattern [2][3] - The subsidiaries currently operate over 100 outlets, including dine-in and cloud kitchens, across more than 40 cities in India, aiming to achieve operational synergies and reduce costs through the merger [3][4] Group 2 - DIL operates over 2,000 outlets in more than 280 cities in India and internationally, holding franchise rights for brands like Costa Coffee and New York Fries [4] - In January 2026, DIL signed a merger agreement with Sapphire Foods to combine two Yum! Brands franchise operators in India, with the merger expected to take 12 to 15 months to finalize [4]