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May, 28 2014

Olive Bar to raise Rs 200 crore

From private equity investors.

Olive Bar & Kitchen, the fine dine restaurant owned by AD Singh is planning to raise Rs 180-200 crore from private equity investors. Aditya Birla Private Equity fund is already an investor but the company is looking for others to expand its portfolio.

According to an investment banker who is aware of the development, said, "The Company has exhausted the money it raised from Aditya Birla PE and will need more capital for its future plans.”

In 2012, Aditya Birla Private Equity, part of the Aditya Birla Financial Services Group owned by billionaire Kumarmangalam Birla, invested around USD 10 million for a minority stake in Olive Bar & Kitchen Pvt Ltd, which owns the Olive, Monkey Bar, LAP, Ai and Soul Fry brands.

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