Devyani-Sapphire Merger: The common thread between the two companies other than brands

As of September 30, 2025, Sapphire Foods had less than 50,000 retail shareholders or those with an authorized share capital of up to ₹2 lakh, who held a 3.1% stake in the company. At the time of its listing in November 2021, Sapphire Foods had over 89,000 retail shareholders who had a 3.25% stake in the company.

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