ICICI Venture-backed Devyani International, which holds the master franchisee for global food and beverage brands like KFC, Pizza Hut and Costa Coffee in India, is looking to expand by adding 30-40 per cent more outlets. The firm is also looking for its next round of funding and has also plans to go for an IPO by 2014 end. Its niche brands South Indian chain Vaango and ice-cream brand Swensen's are also an interesting bet for investors at this point. CEO and president Virag Joshi feels that one needs to have deep pockets to survive in the food business as inflation is hitting, but sales are not increasing at the same pace. In a video interaction with VCCircle, he discusses the company’s fund raising plans, roadmap for an IPO and marketing initiatives for various brands.
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