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Yum Restaurants to pare entire 4.4% stake in Devyani International: Sources

26 Mar 2024 , 03:16 PM

According to insiders, Yum Restaurants India plans to sell its whole 4.4% share in fast-service restaurant operator Devyani International in a block sale to obtain 814.80 Crore.

The floor price is set to be 153.50 per share, which represents a 7.6% reduction from Devyani International’s closing price on Tuesday.

As of December 30, Yum Restaurants India owned 5 crore shares of Devyani International. Yum Restaurants India acquired a 4.41% stake in Devyani International in September 2021 and has since maintained its holding in the company.

Aside from Yum Restaurants India, Sabre Investment Consultants owns a 1.01% investment in the firm. Dunearn Investments (Mauritius) PTE Limited owns a 2.94% interest in Devyani International.

Despite the fact that the third quarter of fiscal year 24 is often a busy holiday season, consumer mood remained muted for Devyani International. Certain worldwide geopolitical events influenced the company’s brands.

Devyani International is Yum Brands’ largest franchisee in India, operating KFC, Pizza Hut, and Taco Bell, as well as the sole franchisee for Costa Coffee.

DIL takes pride in its varied collection of well-known global brands and successful in-house brands, managing a broad network of more than 1700 restaurants as of January 31, 2024, spanning across India, Nepal, Nigeria, and Thailand. DIL operates under the umbrella of RJ Corp., a conglomerate that has evolved into a robust multinational entity with flourishing ventures in beverages, fast-food restaurants, retail, ice-cream, dairy products, healthcare, and education.

For feedback and suggestions, write to us at editorial@iifl.com


Related Tags

  • Devyani International
  • Devyani International News
  • Devyani International Stake
  • Devyani International Updates
  • Yum Restaurants
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