Speciality Restaurants operates fine-dining restaurant chains such as Mainland China, Oh! Calcutta, Sigree Global Grill, Episode One, and Haka has raised INR 127 crore in a preferential issue.
The funds will be used to upgrade and build new restaurants.
The company issued 60 lakh warrants, convertible into equity shares. The conversion of warrants into equity shares will result in a 12.78 percent increase in its paid-up equity share capital.
“With the completion of this issue, we have raised significant capital to pursue new business opportunities and continue to deliver value to all our shareholders,” said Anjan Chatterjee, chairman of Speciality Restaurants Limited.
PL Investment Banking, the investment banking and corporate advisory arm of the Prabhudas Lilladher Group, arranged the fundraising.
Around 87 restaurants and 40 confectionery stores are operated by Speciality Restaurants in 14 Indian cities. Additionally, it runs restaurants as a joint venture: two in the UAE, one in Qatar, and one in London.
“We are pleased to announce the successful execution of our preferential issue, with PL Investment Banking as our exclusive financial advisor. The depth of experience and expertise which the team at PL brings in is truly commendable.”