Bodhi Tree Systems, an investment platform set up by Lupa Systems founder James Murdoch and former Disney executive Uday Shankar, has agreed to pick up a majority stake in Adyar Ananda Bhavan for $180 million (about Rs 1,700 crore), the companies said in a joint statement Thursday.
The announcement comes barely ten days after VCCircle reported that Bodhi Tree was set to seal a deal to invest in the South Indian restaurant and sweets chain.
This is Bodhi Tree’s third deal. It previously invested in test-prep company Allen Career Institute and entertainment company JioStar.
The statement didn’t disclose the exact size of the stake Bodhi Tree is picking up in Adyar Ananda Bhavan Sweets India Pvt Ltd.