Yum Restaurants India is reported to have sold its 4.4 per cent share in Devyani International for US$105 million.
Devyani International, from which Yum Restaurant acquired the stake in 2021, is the main franchisee of Yum Brands in China, operating KFC, Pizza Hut and Taco Bell.
SBI Mutual Fund (MF), Axis MF, Franklin Templeton MF, Nippon India MF, and Goldman Sachs are among the investors in Devyani International’s stock.
Devyani is planning to push the expansion of these brands, strengthening its growth strategy in FY24 by purchasing 274 KFC restaurants in Thailand, marking its first foray into Thailand’s quick-service and limited-service restaurant markets.
The business also plans 2000 stores across the globe by the end of this year, ahead of the previous target date of 2026.