Devyani International Limited has successfully concluded its postal ballot process, with shareholders approving two significant corporate restructuring proposals on March 8, 2026. The company, which operates popular food brands including KFC, Pizza Hut, and Costa Coffee, received overwhelming shareholder support for both special resolutions.

Postal Ballot Results Overview

The postal ballot process concluded with strong shareholder participation, covering a substantial portion of the company's equity base. As of the cut-off date of January 30, 2026, the company's total paid-up equity share capital stood at INR 1,23,28,72,291, divided into 1,23,28,72,291 equity shares of INR 1 each.

Resolution 1: Share Capital Re-classification

The first special resolution involved re-classification of the company's authorised share capital with consequential amendments to the Memorandum of Association. This resolution received approval from 95.32% of the voting shareholders, with 1,03,22,06,601 votes cast in favour against 5,07,07,358 votes in dissent.

The voting pattern across different shareholder categories showed strong support from promoters and retail investors. Promoter and promoter group shareholders voted unanimously in favour, while public institutional investors showed 81.48% support and public non-institutional investors demonstrated 99.95% approval.

Resolution 2: Preference Share Issuance

The second special resolution authorized the issuance of non-convertible redeemable preference shares on a private placement basis. This proposal secured 95.25% shareholder approval, with 1,03,08,03,907 votes in favour and 5,14,06,422 votes against.

Voting Process and Compliance

The postal ballot process was conducted in accordance with the Companies Act, 2013, and SEBI Listing Regulations. Neeraj Arora, a practicing company secretary from M/s Sanjay Grover & Associates, served as the scrutinizer for the voting process. The remote e-voting facility was provided through NSDL's platform, with the voting period extending from February 7, 2026, at 9:00 AM to March 8, 2026, at 5:00 PM.

A total of 941 shareholders participated in the voting process, representing significant shareholder engagement. The company published advertisements in Financial Express (English) and Jansatta (Hindi) newspapers on February 7, 2026, to inform eligible shareholders about the postal ballot notice.

Corporate Governance and Documentation

The voting results and scrutinizer's report have been uploaded on the company's website at www.dil-rjcorp.com and NSDL's e-voting platform. Pankaj Virmani, Chief Sustainability Officer and Company Secretary, submitted the voting results to both NSE and BSE on March 8, 2026, ensuring compliance with regulatory disclosure requirements.

The successful approval of both resolutions provides Devyani International with enhanced financial flexibility and strategic options for future growth initiatives. The company's strong shareholder support demonstrates confidence in management's strategic direction and corporate restructuring plans.

Devyani International Limited has announced the resignation of Mr. Shivashish Pandey from his position as CEO-Yum Brands, effective from the close of business hours on February 28, 2026. The company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding changes in senior management personnel.

Regulatory Disclosure Details

The company had previously informed both the National Stock Exchange of India Limited and BSE Limited about this resignation on February 4, 2026. The formal communication was sent to comply with SEBI Listing Regulations and included all required documentation.

Resignation Letter Details

Mr. Shivashish Pandey submitted his resignation letter on November 24, 2025, formally addressing his decision to step down from the CEO-Yum Brands position. The resignation letter was directed to Mr. Virag Joshi, CEO & President, and Mr. Rajeshwar Tripathi, Group CHRO.

In his resignation communication, Mr. Pandey expressed gratitude for the opportunity to work with the organization and offered assistance during the transition period. He wished the company and his colleagues success in their future endeavors.

Management Position and Responsibilities

Mr. Pandey held the position of CEO-Yum Brands and was designated as Senior Management Personnel within Devyani International's organizational structure. His role was specifically focused on overseeing the Yum Brands operations, which include popular food chains under the company's franchise portfolio.

Compliance and Documentation

The company has fulfilled all regulatory requirements under the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026. Chief Sustainability Officer & Company Secretary Pankaj Virmani signed the disclosure document, ensuring proper compliance with listing obligations.

The resignation represents a significant change in the senior management structure of Devyani International's Yum Brands division, with the effective date marking the conclusion of Mr. Pandey's tenure with the organization.