Devyani International will proceed with its proposed merger with Sapphire Foods India after Sapphire Foods Mauritius Ltd and Arctic International Pvt Ltd mutually terminated their share-purchase agreement for about 18.5 per cent of Sapphire Foods India, which had been a condition for the merger, with Devyani International still to issue 177 shares for every 100 shares of Sapphire Foods India and SFML now participating on the same basis as other shareholders.