Devyani, Sapphire shares rise after merger ratio revision
In short
Devyani International and Sapphire Foods shares rose after the merger plan was changed. The revised share-swap ratio says Sapphire Foods holders will get 177 Devyani shares for every 100 Sapphire shares they own. The record date will be announced later.
What the reporting says
Devyani International and Sapphire Foods shares rose after the merger scheme was revised.
Why it matters
Devyani International and Sapphire Foods moved higher after the merger scheme was revised, with the share-swap ratio set at 177 Devyani shares for every 100 Sapphire shares. The record date has not yet been announced.