While the company has not revealed the share quantity or purchase price, it declared that its board will hold a meeting to approve the proposal on 24 April
Known for running outlets of brands like KFC, Pizza Hut and Costa Coffee, Devyani International, a quick service restaurant (QSR) operator, has revealed its intention to acquire a controlling equity stake in Sky Gate Hospitality, which operates restaurants under the brand ‘Biryani by Kilo’.
Devyani International, backed by the Jaipuria family, intends to take over a majority interest in Sky Gate Hospitality, which runs restaurants under the ‘Biryani by Kilo’ name, as well as additional brands, as stated in a regulatory filing.
“We wish to inform you that a meeting of the Board of Directors of the Company is scheduled on Thursday, 24 April 2025 inter-alia, to consider and approve the definitive agreements and issuance of equity shares of the Company on a preferential basis to discharge the consideration payable for acquisition of controlling equity stake in Sky Gate Hospitality, operating restaurants under the brand ‘Biryani by Kilo’ and other brands,” stated the firm in an exchange filing.
While the company has not revealed the share quantity or purchase price, it declared that its board will hold a meeting to approve the proposal on 24 April.
