This will be the second restaurant company to go public after Jubilant Food Works, the exclusive franchisee for Domino’s Pizza chain in India, launched its IPO early this year and listed at a premium of around 58% in the month of Feb 2010.
Speciality Restaurants is a privately-held firm promoted by Anjan Chatterjee which owns popular fine dining restaurant chains Mainland China and Oh!Calcutta, is looking to sell 30% stake through a public issue to raise about Rs 200 crore. The company has plans to ramp up its number of restaurants to 100 from the current 74, by the end of 2011.The firm also plans to use part of the funds to step up its presence in the international market and open restaurants in Dubai, Sri Lanka and London. It currently runs a Mainland China branch in Bangladesh The company is in talks with Kotak Bank to facilitate the issue and could see SAIF Partners exit completely during the public offer. SAIF Partners had invested Rs 90 crore in December 2007 to buy 20% stake in the food services firm.
Almost one third of the working class eat out at least once a month and a majority of them spend Rs 101-150 per meal, as per the Food Franchising Report, 2009, prepared jointly by Ficci-CIFTI and Franchise India Holdings. Eating out has become a big business in the country over the past few years.
Like Jubilant Food IPO , this IPO too must be a Blockbuster. With rising income levels all hotels are performing well. segree is doing really good.
The IPO will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).Google+