Speciality Restaurants plans Rs 150-crore expansion
Speciality Restaurants Private Ltd, which runs restaurant chains like Mainland China, Sigree, Oh! Calcutta, Machan and Flame and Grill, is planning to dilute its equity by up to 30 per cent to raise money for its expansion plans, besides planning an initial public offer (IPO). - Costly software - Be wary of IPOs - DB Corp shows listing day gains are back - India attractive market for bullish US VCs in 2010 - Broking agencies offer freebies to pull retail investors - Emerging stocks lose 20% as Mobius sees IPO backfire The company also said it was planning to acquire a restaurant in South India, which would cost around Rs 100 crore. Speciality Restaurants Managing Director Anjan Chatterjee said the company was planning to invest around Rs 150 crore to expand its flagship brand ‘Mainland China’ to over 100 outlets in the next two years from the present 32. “We are also interested in region specific cuisine. We are negotiating with a leading South Indian restaurant chain for acquiring the same,” he said. The company is looking at firms which have a turnover of around Rs 100 crore. The company plans to fund its expansion plans through debt and equity. “We already have a private equity partner Saif, who has taken 20 per cent and we are planning to go up to 30 per cent to raise more money. We may also go for an IPO in the next 24-36 months,” said Chatterjee. The group is also planning to set up its second Institute of Oriental Catering and Hotel Management in Chennai with an investment of around Rs 25 crore. The new institute is coming at Sriperumbudur near Chennai. Initially, the institute will have 200 seats across various courses, including a one-year certificate course, two-year diploma course and a three-year degree course in restaurant and hotel management. The group has already established an institute in Kolkata. Commenting on the overseas expansion, Chatterjee said, the group is already operating a restaurant in Beijing and is planning to open one in Dhaka during this month and Nepal facility is in the construction stage. The new markets which the group is looking to foray is London, US and Dubai, added Chatterjee.online payday loans commented:
The company proposes to utilise the issue proceeds for development of new corporate restaurants (with the cost of Rs 144.69 crore, which will be spent in FY12 & FY13); development of a food plaza (with Rs 15.1 crore); and repayment of a term loan facility of Rs 10.43 crore.
24.09.2011
Kwik Quid commented:
Such expension plan is really sounding good and I hope this plan will give them good outputs.
28.11.2011
Goa Escorts commented:
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11.12.2011
QuickQuid commented:
Such expansion plan is just like an invitation to growth and profits. I hope such plan will be in action soon and will be successful.
12.12.2011
Wealth Transfer Asia commented:
This plan is really praiseworthy and would give a good output.Such plan would have fantastic growth and profit and it is guarantee of success in future.
11.01.2012
Australian Property Finance commented:
Such expansion is proof of their good goals for growth and benefits.I wish them luck and will be eager to see such expansion.
16.01.2012
Single Family Offices Asia commented:
Speciality restaurant group want to expand its operations so they are going to raise some money through the stocks and they have many chains in the big cities of the country as well.
20.01.2012