Max Ventures & Industries Ltd picks restaurant for its first investment, to invest in Azure Hospitality
Max Ventures & Industries Ltd picks restaurant for its first investment, to invest in Azure Hospitality

Max Ventures & Industries Limited (MVIL), a part of one of India’s leading multi-business conglomerates, the Max Group, has announced its intent to invest in Azure Hospitality Pvt. Ltd., which owns and operates Mamagoto, a mid-scale casual dining restaurant chain and Speedy Chow/Roll Maal, a quick service restaurant (QSR) format for Indian & Chinese street food and an Institutional Catering Service.

This will be the first investment by MVIL, a holding company formed recently through a three way demerger of the erstwhile Max India Ltd, to provide the latter’s investors with specific and undiluted access to diverse lines of businesses, unlock shareholder value and enable sharper focus on each operating business.

The company which is owned by Kabir Suri and Rahul Khanna has raised a series A round of funding last year to expand its business in Delh-NCR.

Established in 2009, Azure Hospitality is a leading hospitality business chain offering South East Asian cuisine in a differentiated format.

MVIL will be co-investing in the second round with Goldman Sachs, the key investor in the first round.

Explaining the rationale behind the investment, Sahil Vachani, MD, MVIL, said, “Within the sectors that we are actively considering for investment, we particularly favored Azure Hospitality because of the vision of its founders, their values , the scale they have demonstrated and the potential for profitable growth. We are also pleased to partner the existing investor, Goldman Sachs, who is investing further at this stage. The strong fundamentals of Azure coupled with huge growth prospects within the sector make this an exciting opportunity for MVIL.”

The Indian food industry is estimated at USD 100 Bn. within this, the organised sector is expected to grow at 16% CAGR to USD 28Bn, in the next 5 years.

 
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