Overview
- Devyani will issue 177 shares for every 100 Sapphire shares in a deal reported at about US$934 million.
- The merged company will operate over 3,000 KFC and Pizza Hut outlets with unified franchise rights across India and an expanded presence in Sri Lanka.
- Management projects annual synergies of Rs 210–225 crore from the second full year, with an appointed date of April 1, 2026 for accounting purposes.
- Yum! Brands has approved the consolidation, with Devyani set to acquire 19 KFC restaurants from Yum! India and to pay one‑time charges tied to approval and additional territory rights.
- Arctic International will acquire roughly 18.5% of Sapphire’s equity before closing, and the Jaipuria family’s promoter stake in the combined entity is expected to fall to about 47.83%.