Saif Partners is reportedly holding initial talks to increase its stake in
Mumbai based food services company Speciality Restaurants to 20 per cent from 12
per cent currently.
Speciality Restaurants owns fine dining restaurant chains such as Mainland
China and Oh!Calcutta. According to sources, the funds raised through equity
dilution will be used by the company to expand the chain of its restaurants
across the country over the next 18 months. The expansion will entail an
investment of close to 350 crore.