JSM Corp. Pvt. Ltd, the Indian franchisee for Hard Rock Café, California Pizza Kitchen and Trader Vic’s, is looking at raising Rs120 crore to Rs.150 crore from private equity investors for expansion.
The Mumbai-based company, founded by Jay Singh and Sanjay Mahtani in 2004, has revenues of nearly Rs.150 crore. It is looking at diluting a minority stake, according to two people close to the development, who spoke on condition of anonymity.
“It is a confidential matter and we cannot divulge any further details on the same at this stage,†said Singh who is also the firm’s executive director. Full post.