Rumors Circulate: Lenskart, Carlyle, Surya Hospitals, Yum! Brands Make Headlines
In the bustling world of business, some companies are making strategic moves to consolidate their positions. One such company is Devyani International, the Indian franchisee of Yum! Brands, which is increasing its stake in Sky Gate Hospitality, the parent company of popular food brands like Biryani By Kilo.
According to recent reports, Devyani International is acquiring additional shares worth approximately Rs 106 crore, a move that will raise its stake in Sky Gate from 80.72% to 86.13% on a fully diluted basis. This internal acquisition is a clear indication of Devyani International's focus on expanding its foodservice portfolio and strengthening its control over subsidiaries.
Interestingly, Devyani International is the primary investor in this stake acquisition, making it a self-led operation. This move comes amidst speculation of a potential merger between Devyani International and Sapphire Foods via a share swap deal, but this is separate from the stake acquisition competition and more about strategic consolidation.
Elsewhere in the business world, Carlyle, a leading global private equity firm, is making moves of its own. The company has hired a former Bain Capital executive to strengthen its India team. Meanwhile, Carlyle's Africa spinout, Alterra Capital, is exiting a legacy asset.
Meanwhile, Lenskart, the Indian eyewear company, is making investments. Its founder, Peyush Bansal, is purchasing a stake in the company from investors. The company is also investing in Ajna Lens, further expanding its footprint in the eyewear industry.
Intriguingly, Devyani International's Yum! Brands franchise operations are a subject of interest for multiple investors. However, as of now, no other external investors have been reported to be competing for a stake in Devyani International.
On another note, multiple investors are competing to acquire a stake in Surya Hospitals. This competition is part of a larger trend where private equity and venture capital firms are cashing in on the stock market rally to make $3 billion through exits within a month.
Carlyle is also planning to monetize its investment in Piramal Pharma, adding another significant deal to the mix.
As these moves unfold, the business landscape in India continues to evolve, with companies making strategic decisions to strengthen their positions and seize opportunities for growth.
Devyani International, through its focus on expanding its foodservice portfolio, is actively investing in increasing its stake in Sky Gate Hospitality, demonstrating a strategic move in the finance sector. Meanwhile, Carlyle, a leading global private equity firm, is making its own investments, such as hiring a former Bain Capital executive and planning to monetize its investment in Piramal Pharma, indicating a continuous trend of business consolidation and growth in India.
