Devyani-Sapphire merger clears BSE hurdle, shares jump up to 7%
BSE has issued the observation letter clearing the path for Devyani International and Sapphire Foods to combine, with the next stop being the NCLT. The merged entity would become one of India's largest QSR operators, consolidating KFC and Pizza Hut franchise rights under a single roof.
BSE issued observation letter clearing Devyani International and Sapphire Foods to proceed with merger, sending shares up to 7% higher. Combined entity will become one of India's largest QSR operators, housing KFC and Pizza Hut franchises. NCLT filing next.