Devyani International raises stake in Sky Gate Hospitality to 86.13% for Rs 106 crore
The consolidated turnover (excluding turnover from Krazy Kebab Co. and Peanutbutter and Jelly Private Limited) of Sky Gate was Rs 277 crore in FY25
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KFC and Pizza Hut chain operator Devyani International Limited has raised a stake in Sky Gate Hospitality Private Limited (“Sky Gate”) along with its subsidiaries. DIL on Tuesday announced that it will be acquiring 86.13% equity stake in Sky Gate on a fully diluted basis for Rs 106.25 crore, according to the regulatory filing.
Post the acquisition, Sky Gate along with its subsidiaries Blackvelvet Hospitality Private Limited, Say Chefs Eatery Private Limited; Peanutbutter and Jelly Private Limited will become subsidiaries of Devyani International.
Currently, the Quick Service Restaurant (QSR) chain operator holds 80.72% equity stake in Sky Gate.
Sky Gate along with its subsidiaries owns brands, such as ‘Biryani By Kilo’, ‘Goila Butter Chicken’, ‘The Bhojan’, ‘Get-A-Way’ and ‘Krazy Kebab Co.’
The consolidated turnover (excluding turnover from Krazy Kebab Co. and Peanutbutter and Jelly Private Limited) of Sky Gate was Rs 277 crore in FY25.
According to Devyani International, the acquisition is expected to be completed before July 31.
