Devyani International's Subsidiary Divests 51% Stake in Peanutbutter and Jelly Private Limited to Heritage Foods

Devyani International Limited has announced the divestment of its step-down subsidiary through a strategic sale agreement. The company disclosed that Sky Gate Hospitality Private Limited, its subsidiary, has executed a Share Purchase Agreement with Heritage Foods Limited for the sale of its entire 51% equity stake in Peanutbutter and Jelly Private Limited.

Transaction Details

The share purchase agreement was executed on December 30, 2025, with the transaction expected to complete by January 31, 2026. The deal involves the transfer of Sky Gate's complete 51% equity holding in Peanutbutter and Jelly Private Limited to Heritage Foods Limited.

Transaction Parameter:	Details
Sale Date:	December 30, 2025
Expected Completion:	On or before January 31, 2026
Consideration Amount:	₹9.00 crore
Equity Stake Sold:	51% (entire holding)
Buyer:	Heritage Foods Limited

Background of the Acquisition

Devyani International had originally acquired approximately 80.72% equity stake in Sky Gate Hospitality Private Limited on a fully diluted basis in April 2025. This acquisition included Sky Gate's subsidiaries: Blackvelvet Hospitality Private Limited, Say Chefs Eatery Private Limited, and Peanutbutter and Jelly Private Limited. The acquisition was completed on June 10, 2025, making these entities subsidiaries and step-down subsidiaries of Devyani International.

About the Buyer

Heritage Foods Limited is described as one of India's leading dairy companies with operations spanning 17 states. The company serves millions of consumers, offering a comprehensive range of dairy products including milk, curd, butter, paneer, and other value-added dairy products. Heritage Foods Limited does not belong to Devyani International's promoter, promoter group, or group companies, making this an arm's length transaction.

Financial Impact

Since Peanutbutter and Jelly Private Limited became a step-down subsidiary of Devyani International only from June 10, 2025, there was no contribution to the company's turnover, revenue, income, or net worth during the last financial year FY 2024-25. The transaction is not classified as a related party transaction and falls outside any scheme of arrangement.

Strategic Implications

Upon completion of this divestment, Peanutbutter and Jelly Private Limited, which owns the Get-A-Way brand, will cease to be a step-down subsidiary of Devyani International. This strategic move allows the company to realize value from its recent acquisition while focusing on its core quick service restaurant operations. The transaction demonstrates Devyani International's active portfolio management approach in optimizing its subsidiary structure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.77%	+2.12%	+4.85%	-17.08%	-22.58%	+15.16%

Devyani International Limited has announced significant changes in its senior management team with the resignation of two key executives. The company disclosed these developments to stock exchanges on December 12, 2025, in compliance with regulatory requirements.

Senior Management Departures

Two senior management personnel have resigned from their positions effective from the close of business hours on December 12, 2025:

Position	Executive	Effective Date
CEO - Vaango	Mr. Dinesh Hariharan	December 12, 2025
CEO - Costa Coffee and Airport Business	Mr. Kamaljit Singh Bedi	December 12, 2025

Resignation Details

Both executives cited personal reasons and the pursuit of new career opportunities outside the organization as the primary factors behind their decision. Mr. Dinesh Hariharan submitted his resignation on December 10, 2025, requesting relief from his duties as CEO-Vaango. In his resignation letter, he expressed gratitude to colleagues for their support during his tenure and wished the company success in all its endeavors.

Leadership Transition

Mr. Kamaljit Singh Bedi, who served as CEO for Costa Coffee and Airport Business, also submitted his resignation on December 10, 2025. In his detailed resignation letter, he described the decision as being made after careful consideration. Bedi acknowledged the exceptional team of colleagues he worked with and expressed deep gratitude for the trust, support, and collaboration extended to him during his journey with the company.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both the National Stock Exchange of India Limited and BSE Limited, providing complete details of the personnel changes as required by regulatory frameworks.

Company Response

Both departing executives expressed confidence in the continued success of Devyani International. The resignations represent a significant change in the company's leadership structure across two key business verticals - the Vaango brand and the Costa Coffee and Airport Business segments. The company has not yet announced replacement appointments for these positions.