Devyani, Sapphire Foods rally up to 9% as exchanges clear KFC-Pizza Hut merger
Both QSR operators received no-objection letters from NSE and BSE for their proposed merger, paving the way for a single pan-India entity running KFC, Pizza Hut, Taco Bell and Costa Coffee across 280+ cities. Devyani rose 8.89% to Rs 121.25; Sapphire gained 6.97% to Rs 185.50.
Devyani International and Sapphire Foods shares rose up to 9% after both received no-objection observation letters from NSE and BSE for their merger, which will consolidate KFC and Pizza Hut QSR operations into a single pan-India entity.