Devyani International gets NSE, BSE nod for merger with Sapphire Foods
This story was originally published at 19:36 IST on 15 June 2026
Register to read our real-time news.Informist, Monday, Jun. 15, 2026
--Devyani Intl gets 'no objection' from NSE for merger of Sapphire Foods
--Devyani Intl gets BSE's 'no adverse observations' for Sapphire Foods merger
NEW DELHI – Devyani International Ltd. Monday said it has received a no-objection letter from the National Stock Exchange of India Ltd. and a no-adverse-observation letter from BSE Ltd. for its proposed scheme of merger with Sapphire Foods India Ltd. The company said the proposed scheme remains subject to other statutory and regulatory approvals, including approvals from shareholders and creditors, as required.
The companies need to obtain approval from the Competition Commission of India before filing the scheme with the National Company Law Tribunal. They also need to disclose details of any ongoing adjudication, recovery proceedings, prosecutions, or enforcement actions involving the companies, their promoters and directors while seeking shareholder approval.
NSE's no-objection letter and BSE's no-adverse-observation letter are valid for six months from Jun. 12, within which the scheme must be submitted to the tribunal, according to the exchanges. In January, the boards of Devyani International and Sapphire Foods had approved the scheme of merger through a share-swap mechanism.
For the March quarter, on a consolidated basis, Devyani International had reported a net loss of INR 100.43 million on revenues of INR 14.37 billion. Sapphire Foods India had reported a net loss of INR 126.05 million on revenues of INR 7.92 billion. Monday, shares of Devyani International ended at INR 111.40 on the NSE, up 1.8% from Friday. Shares of Sapphire Foods India closed at INR 173.45, up 2.5%. End
Reported by Gunjan Rajput
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
