It is an organisation which is restless and brimming with ideas, as it sees opportunities aplenty in India. Led by V G Siddhartha, who bet big on the India consumption story nearly 15 years ago, the group is at it again.
Just a year after raising $200 million from globally-renowned private equity investors, Siddhartha is understood to be setting the stage for another $200 million fund raise. PE fund players indicate that couple of funds have been sounded out.
According to PE players, Siddhartha is looking keenly to ramp up his waste management business. The Coffee Day Group owns a bouquet of businesses ranging from coffee bars, coffee exports, a chain of high-end resorts, food processing, furniture, logistics, wealth management, venture capital, granites, commercial real estate development and waste management.
PE players indicate, the waste management business is understood to have got some contracts in Bangalore and Mumbai, and is looking to ramp up.
According to funds close to the group, the flagship coffee chain is humming along nicely. The group is looking at channelling resources towards furniture, resorts and now waste management.
The management denied any such move.
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Siddhartha, in an earlier interview with Business Standard, had indicated he would invest close to Rs 2,000 crore for his bouquet of businesses.
The group has been attracting some of the best known PE funds AIG, IFC, Darby Private Equity from the stables of Franklin Templeton, Sequoia Capital, KKR, Standard Chartered Private Equity and New Silk Route.