HYDERABAD: Paradise Biryani plans to raise around ₹100 crore to fuel expansion and strengthen its presence across key cities.
Currently, private equity firm Samara Capital, which owns
The firm may dilute 10-12% stake in the 12-year-old company to bring in a new investor, a senior executive said.
Meanwhile, the fresh capital will support aggressive expansion. Paradise aims to launch 100 new outlets over the next three years, said Abhik Mitra, managing director and CEO of the company.
Hyderabad divisions set for another address change
Notably, Samara acquired full control of Paradise in 2022. It earlier held a 35% stake but bought the remaining 65% from the promoters for ₹400 crore. The firm had first invested ₹70 crore in 2014.
At present, Paradise operates about 57 outlets across Hyderabad, Bengaluru, Chennai, Vijayawada, Visakhapatnam and Gurugram. Going forward, it plans to expand into Pune, Kolkata, New Delhi, Guntur and Warangal. This expansion could take the total store count to nearly 160 in three years. The company currently generates around ₹300 crore in revenue.
Importantly, the fundraise comes amid strong growth in the biryani segment. Rising online food orders, improving consumer spending and growing preference for organised food chains are driving this trend.
For instance, in 2021, the family office of Havells Group invested in Dindigul Thalappakatti at a valuation of ₹860 crore. The chain's majority stake is held by CX Partners.