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News Roundup: Speciality Restaurants in talks to buy stake in Sanjeev Kapur’s SK Restaurants

19 May, 2014

Speciality Restaurants, which runs chains such as Mainland China, Sigree and Oh Calcutta, has begun talks to purchase a significant stake in celebrity chef Sanjeev Kapoor’s SK Restaurants Pvt Ltd, three people with knowledge of the matter said. SK Restaurants, previously known as Indian Cookery, operates Khazana, The Yellow Chilli, Pin Yin, Signature by Sanjeev Kapoor and Sura Vie Lounge chains. “The enterprise value of the company is pegged between Rs 300 crore and Rs 350 crore ($51 milliom – $60 million),” an investment banker said. Promoters of health-club operator Talwalkars and local private-equity fund TVS Capital hold significant minority stakes in the unlisted company. () 

Sapience in talks to raise up to $10 million to fund US expansion: Sapience Analytics has entered into negotiations to raise up to $10 million (Rs 59 crore) in equity funding, as the Pune-based enterprise software company prepares to establish its footprint in developed markets, particularly the US. The firm has held talks with multiple venture capital firms. The proceeds from a potential Series B round, which is expected to close in the next two to three months, will be used to drive its sales and marketing efforts in the US.  ()  

Blue Star Infotech eyes acquisition in US: Continuing its inorganic growth strategy, Blue Star Infotech is planning an acquisition in the US this year and is currently engaged in building its banking lines for the same. “We are currently engaged in making financial provisions for the acquisition that we intend to make in the US this year,” chief executive officer and managing director Sunil Bhatia told. Since the company is looking for digital transformation in order to keep itself in pace with the changing technological trend, its acquisition will also be focused towards the similar area mainly in analytics or mobility. The company reported a consolidated top line of Rs 78 crore in the March quarter, up 54% year-on-year. (Business Standard) 

Courtesy: VCCEdge


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News Roundup: Speciality Restaurants in talks to buy stake in Sanjeev Kapur’s SK Restaurants

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