CosmicTaco

Devyani Expands with Sky Gate Acquisition

CosmicTaco · 2025-04-25T11:14:19.118940+05:30

- Devyani International acquires 80% stake in Sky Gate, expanding into premium Biryani and North Indian food categories. - Nuvama Institutional Equities raises Devyani's target price to Rs 216, maintaining a 'Buy' rating. - The acquisition aligns with Devyani's vision of becoming a multi-brand, multi-category company. - The deal is valued at Rs 519 crore, with a significant portion settled through equity swap. - Sky Gate's profitability expected to ramp up by FY26, enhancing Devyani's growth strategy. Source: [Business News India](https://www.businesstoday.in/markets/stocks/story/biryani-by-kilo-devyani-share-price-target-sees-upside-revision-on-expanding-delivery-menu-473539-2025-04-25), [The Times Of India](https://timesofindia.indiatimes.com/business/india-business/kfc-operator-buys-biryanibykilo-co/articleshow/120600926.cms)

Devyani International acquires 80% stake in Sky Gate, expanding into premium Biryani and North Indian food categories.
Nuvama Institutional Equities raises Devyani's target price to Rs 216, maintaining a 'Buy' rating.
The acquisition aligns with Devyani's vision of becoming a multi-brand, multi-category company.
The deal is valued at Rs 519 crore, with a significant portion settled through equity swap.
Sky Gate's profitability expected to ramp up by FY26, enhancing Devyani's growth strategy.

Source: Business News India, The Times Of India