Archive · 6 Jan 2026
Devyani International to Unify Tech Stack Post-Merger with Sapphire Foods
Devyani International and Sapphire Foods are merging.
After the merger, they will use the same technology system.
Devyani will get KFC's technology, and Yum will keep doing marketing for KFC.
The merger will take about 13 to 18 months to finish.
Sapphire shareholders will get Devyani shares.
There will be a one-time payment of ₹320 crore to Yum.
Sapphire will no longer exist as a separate company after the merger.
Devyani International and Sapphire Foods will merge and use a common technology stack.
KFC's technology systems will transition to Devyani's platform post-merger.
Yum will continue to handle marketing and innovation for KFC.
The merger is expected to close within 13–18 months of signing the agreement.
Sapphire shareholders will receive 177 Devyani shares for every 100 shares held.
- Who
- Devyani International and Sapphire Foods
- What
- Merger with a unified technology stack and marketing handled by Yum
- When
- Expected to close in 13–18 months post-agreement
- Where
- India
- Why
- To benefit from a unified tech infrastructure and streamline operations
- Merger Parties
- Devyani International and Sapphire Foods
- Share Exchange Ratio
- 177 Devyani shares for every 100 Sapphire shares
- Floor Price
- ₹280 per share
- One-Time Payment to Yum
- ₹320 crore
- Expected Merger Completion
- 13–18 months post-agreement
- Sapphire Promoters' Stake
- 26.07% as of September 30, 2025
- Sapphire Retail Shareholders
- Fewer than 50,000, holding 3.1% stake
- Devyani Promoters' Stake
- 61.4%
