Devyani International Limited has announced that its subsidiary Sky Gate Hospitality Private Ltd will sell its entire 51% equity stake in Peanutbutter and Jelly Private Ltd to Heritage Foods Ltd. The share purchase agreement was executed on December 30, with the transaction expected to be completed by January 31, 2026.

Transaction Details

The deal involves the complete divestment of Sky Gate Hospitality's majority shareholding in Peanutbutter and Jelly Private Ltd. Upon completion of the sale, the target company will cease to be a subsidiary of Sky Gate and a step-down subsidiary of Devyani International.

Background and Context

Devyani International had previously acquired approximately 80.72% equity stake in Sky Gate Hospitality Private Ltd on April 24, 2025. This acquisition included Sky Gate's subsidiaries Blackvelvet Hospitality Private Ltd, Say Chefs Eatery Private Ltd, and Peanutbutter and Jelly Private Ltd. Sky Gate and its subsidiaries became subsidiaries of Devyani International with effect from June 10, 2025.

Financial Impact

The company will receive ₹9.00 crore as consideration upon completion of the share transfer. Notably, Peanutbutter and Jelly became a step-down subsidiary only from June 10, 2025, and therefore did not contribute to Devyani International's turnover, revenue, income, or net worth during the financial year ended March 31, 2025.

Market Performance

Shares of Devyani International closed at ₹142.44, down ₹0.89 or 0.62%, while Heritage Foods ended at ₹451.20, up ₹5.50 or 1.23%. Heritage Foods, the acquiring company, operates as a dairy company across 17 states, offering milk, curd, butter, paneer, and other value-added dairy products.

Heritage Foods Limited announced that Mrs. Nara Brahmani, Executive Director of the company, has been honored as a winner at the prestigious Business Today Most Powerful Women in Business (BTMPW) Awards 2025. The recognition was announced through a regulatory filing dated December 15, 2025.

Award Recognition Details

The award ceremony was held on December 12, 2025, at the National Stock Exchange, Bandra Kurla Complex, Mumbai. The 2025 edition of the awards carried the theme "Profit is Power," celebrating women leaders who have demonstrated exceptional business acumen and leadership.

Platform Significance

The Business Today MPW Awards represents a highly respected national platform that celebrates exceptional women leaders who have made significant contributions to business, industry and society. The recognition acknowledges leaders who have demonstrated outstanding performance in their respective fields and have contributed meaningfully to the business ecosystem.

Leadership Recognition

As Executive Director of Heritage Foods Limited, Mrs. Brahmani's recognition reflects her visionary leadership approach and commitment to excellence. The company highlighted her dedication to social causes and noted that her leadership continues to inspire aspiring women entrepreneurs across the country.

The award recognition marks a significant milestone for Heritage Foods Limited, with the company expressing pride in this achievement. The acknowledgment underscores the company's leadership strength and its contribution to developing women leaders in the business sector.