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Jun, 09 2014

Massive Restaurants to raise funding

Plans to raise Rs 50 crore.

Massive Restaurants, promoted by Jiggs Kalra which runs restaurants like Masala Library, Made in Punjab and Farzi cafe is in talks with PE firms to raise Rs 50 crore.

The Gurgaon based company has also appointed leading Mumbai-based investment bank Lodha Capital Markets to run the mandate and is believed to be in discussions with a number of marquee PE firms.

Jacob Kurian, Partner, New Silk Route, said, "Apart from the huge potential, the F&B sector can also act as a surrogate for other retail businesses where PE is not currently allowed to invest.”

The group is also planning to expand its business across India and in overseas markets such as US, UK and the Middle East.

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