Devyani International Share Price in Focus After Termination of SPA with Sapphire Foods

On August 26, 2026, Devyani International Limited has provided an update regarding its amalgamation with Sapphire Foods India Limited, as per the exchange filings.  

The company announced the termination of a share purchase agreement between Sapphire Foods Mauritius Limited and Arctic International Private Limited. 

Termination of Share Purchase Agreement 

Devyani International disclosed that the share purchase agreement (SPA) between Sapphire Foods Mauritius Limited (SFML) and Arctic International Private Limited has been terminated by mutual agreement.  

This decision was made following commercial discussions between the parties involved. As a result, SFML will receive equity shares of Devyani International in accordance with the amalgamation scheme. 

The amalgamation scheme, approved on January 1, 2026, involves the issuance of 177 fully paid-up equity shares of ₹1 each of Devyani International for every 100 fully paid-up equity shares of ₹2 each held by shareholders of Sapphire Foods. 

Impact on Shareholding Pattern 

Following the termination of the SPA, the secondary sale transaction will not take place. Consequently, the post-scheme shareholding pattern of Devyani International has been revised.  

The promoter and promoter group will hold 75,65,61,690 shares, representing 41.99% of the total shareholding, while public shareholders will hold 1,04,51,58,342 shares, representing 58.01% of the total shareholding. 

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Board of Directors' Decisions 

On August 26, 2026, the Board of Directors of Devyani International, based on recommendations from the Audit, Risk Management, and Ethics Committee, as well as the Committee of Independent Directors, approved the amended scheme and merger framework agreement.  

These changes remove the secondary sale transaction as a condition precedent to the effectiveness of the scheme. 

Devyani International Share Price Performance 

As of August 27, 2026, at 10:45 AM, Devyani International share price on NSE was trading at ₹149.30, down by 0.04% from the previous closing price. 

Conclusion 

The termination of the SPA between SFML and Arctic International has led to a revision in the post-scheme shareholding pattern of Devyani International. The amalgamation process will continue as planned, subject to requisite approvals. 

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