 "Big Fish Ventures to invest Rs 200 cr to open 22 restaurants")
Private equity firm Big Fish Ventures, which owns and operates brands such as Junkyard Cafe and Garam Dharam, is planning to invest over Rs 200 crore for opening more than 20 restaurants in India and overseas this year.
The company has eight restaurants in operation under its various brands.
"We plan to invest over Rs 200 crore during the year to open around 15 to 16 new restaurants across the country and up to seven overseas, under our various concept based brands," Big Fish Ventures Chairman Umang Tewari told PTI.
The new restaurants will be under the company's brands such as Junkyard Cafe, Garam Dharam, Vault Cafe, Oh My god (OMG) and 3 Pegs Down, he added.
When asked about the locations of the new restaurants in India, Tewari said: "They will be in cities such as Delhi, Mumbai, Hyderabad, Gurgaon, Bengaluru and Chandigarh."
Outside India, the company is looking at the United Arab Emirates, Canada and the UK, he added.
When asked how the company plans to raise funds for the expansion, Tewari said: "We have around Rs 80 crore with us, the rest of the finances will be raised through private equity funding."
On the business model that the company follows, he said the company owns the concept, brand holding and also runs the operations and development, he added.
"The venture will centrally manage key business processes like design, supply chain, logistics and quality control to optimise costs," Tewari said.
Big Fish Ventures owns brands such as Out of the Box (OTB) Cafe, Vault Cafe, Garam Dharam, Public Connection, Oh My God (OMG), Junkyard Cafe, Bandstand, Three Peg Down and Raas.
