Other Deals - Listed Firms
Speciality Restaurants raises Rs.127-Cr through pref issue
Economic Times BSE Announcement
Publicly-listed, Mumbai-headquartered Speciality Restaurants, which operates fine-dining restaurant chains such as Mainland China, Oh! Calcutta, Sigree Global Grill, Episode One and Haka, has raised INR 127.30 crore in a preferential issue. PL Investment Banking, the investment banking and corporate advisory arm of the Prabhudas Lilladher Group, arranged the fundraising. The money will be used to build new restaurants and to fund the upgradation of restaurants. On Feb 2, 2023, the company issued 60 lakh warrants, convertible into equity shares at an issue price of INR 212.05 each. The application money of INR.53.02 per warrant, equivalent to 25% of the issue price as warrant subscription money, amounting to INR 31.81 crore has been received by the company. The balance 75% of the issue price of INR 159.03 per warrant, amounting to INR 95.42 crore shall be payable by the warrant holders on or before April 30. The company's paid-up equity share capital will increase by 12.78% on the conversion of warrants into equity shares. Speciality Restaurants has around 87 restaurants and 40 confectionery stores across 14 cities in India. It also operates two restaurants in the UAE, one in Qatar and one in London under a joint venture.
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