Speciality Restaurants, which has brands like Mainland China, Sigree, Oh!
Calcutta, Machan and Flame and Grill under its wing, plans to invest around Rs
150 crore to expand 'Mainland China' outlets from the present 32 to over 100 in
the next two years.
The company proposes to acquire a restaurant in south India, which is
likely to cost around Rs 100 crore. Speciality is also planning to set up its
second Institute of Oriental Catering and Hotel Management in Chennai with an
investment of around Rs 25 crore.
Therefore, the company plans to dilute its equity by up to 30 per cent to
raise money for its expansion plans, besides planning an initial public offer.
Also See:
Speciality Restaurants to open outlets in Orissa (20-Jul-09)