United Restaurants Ltd, operator of the US Pizza chain, plans to raise at least Rs.60 crore from private equity (PE) investors for an ambitious expansion. In an email interview with the US Pizza’s MD, Akabar Khwaja it comes out that the company is in talks with some strategic investors from whom they plan to raise capital. Khwaja says, “We believe the process is going to take a few months.”
Industry experts observe that PE firms have developed a growing interest to fund India’s specialty food chains recently. Growing eating out tendency of Indians can be one of the favorable factors for such development. Although Khwaja believes, “I do not believe that private investors are more interested in funding fast food today than ever. They are always on the lookout for deals that will give them high returns, good image and experience of the Indian market. It so happens that after Jubilant success with retail investors, all private players are looking for the next jubilant story and want to be a part of the same.”
US Pizza plans to increase their total number of stores to 250 and get better penetration in the smaller town market with the raised capital.
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