{"id":5643,"date":"2023-03-22T09:28:07","date_gmt":"2023-03-22T04:28:07","guid":{"rendered":"https:\/\/mbt.mv\/?p=5643"},"modified":"2023-03-22T09:28:07","modified_gmt":"2023-03-22T04:28:07","slug":"sapphire-foods-to-increase-stake-in-maldives-based-gifpl","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=5643","title":{"rendered":"Sapphire Foods to increase stake in Maldives-based GIFPL"},"content":{"rendered":"<p>Sapphire Foods India Ltd (SFIL) on Tuesday, 21st March, announced it plans to increase its stake in Gamma Island Food Private Limited (GIFPL) to 75% from the current 51%.<\/p>\n<p>Gamma Island Food operates Pizza Hut and KFC restaurants in the Maldives under franchisee agreements.<\/p>\n<p>&#8220;The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL), wholly-owned subsidiary of SFIL, has considered and approved subscription of up to 81,914 Equity Shares of GIFPL, subsidiary of GPOPL and step-down subsidiary of the Company, for a total consideration up to 1.88 Crore Maldivian Rufiyaa (Rs 10.15 cr)&#8221;, SFIL said.<\/p>\n<p>SFIL further added, &#8220;Pursuant to this proposed acquisition, the equity shareholding of GPOPL in GIFPL will be increased from the existing 51% up to 75%.&#8221;<\/p>\n<p>&#8220;The proposed acquisition is by way of subscription to the additional equity shares issued by GIFPL to GPOPL, in one or more tranches, pricing of which is based on a chartered accountant report,&#8221; it added.<\/p>\n<p>SFIL is one of the largest franchisees of Yum! Brands Inc. in the subcontinent, operating more than 700 KFC, Pizza Hut, and Taco Bell restaurants across India, Sri Lanka, and the Maldives.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sapphire Foods India Ltd (SFIL) on Tuesday, 21st March, announced it plans to increase its stake in Gamma Island Food Private Limited (GIFPL) to 75% from the current 51%. Gamma Island Food operates Pizza Hut and KFC restaurants in the Maldives under franchisee agreements. &#8220;The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL),<\/p>\n","protected":false},"author":4,"featured_media":5644,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423],"tags":[728,753,1150,1691,1802,1830],"class_list":{"0":"post-5643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-franchise-restaurants","9":"tag-gamma-island-food-pvt-ltd","10":"tag-kfc","11":"tag-pizza-hut","12":"tag-restaurants-and-cafes","13":"tag-sapphire-foods-india-ltd-sfil"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sapphire Foods to increase stake in Maldives-based GIFPL - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=5643\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sapphire Foods to increase stake in Maldives-based GIFPL - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"Sapphire Foods India Ltd (SFIL) on Tuesday, 21st March, announced it plans to increase its stake in Gamma Island Food Private Limited (GIFPL) to 75% from the current 51%. Gamma Island Food operates Pizza Hut and KFC restaurants in the Maldives under franchisee agreements. &#8220;The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL),\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=5643\" \/>\n<meta property=\"og:site_name\" content=\"Maldives Business Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/mvbiztimes\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-22T04:28:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mbt.mv\/wp-content\/uploads\/2023\/03\/195570_3_16272cf3936bcb04e6d2b26cf0ed2ba6a6d435ea_medium-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohamed Reehaan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:site\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohamed Reehaan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=5643#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=5643\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Sapphire Foods to increase stake in Maldives-based GIFPL\",\"datePublished\":\"2023-03-22T04:28:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=5643\"},\"wordCount\":188,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=5643#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mbt.mv\/wp-content\/uploads\/2023\/03\/195570_3_16272cf3936bcb04e6d2b26cf0ed2ba6a6d435ea_medium-1.jpg\",\"keywords\":[\"Franchise Restaurants\",\"Gamma Island Food Pvt Ltd\",\"KFC\",\"Pizza Hut\",\"Restaurants and Cafes\",\"Sapphire Foods India Ltd (SFIL)\"],\"articleSection\":[\"BUSINESS\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=5643#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=5643\",\"url\":\"https:\/\/mbt.mv\/?p=5643\",\"name\":\"Sapphire Foods to increase stake in Maldives-based GIFPL - 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