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Deep
an investor in Mumbai Β· (3 hours ago)
Sapphire Foods and Devyani International have announced a landmark merger, creating one of Indiaβs largest QSR platforms under the Yum! Brands ecosystem.
Deal Structure: Share-swap merger
Swap Ratio: 177 Devyani shares for every 100 Sapphire shares
Scale: 3,000+ restaurants across India & international markets
Synergies: βΉ210β225 Cr expected annually
This isnβt just about size β itβs about efficiency, bargaining power, and operating leverage in a sector facing margin pressure and slowing discretionary demand.