Tata Capital's – Tata Opportunities Fund has acquired 10% stake in Roots Corporation Limited, which runs budget hotel chain Ginger.
In June 2004, Roots Corporation, an arm of Indian Hotels Company (Taj hotels) entered into budget hotels through the launch of Ginger. It had launched its first hotel in Bangalore and was called IndiOne. Currently, it has hotels at around two dozen locations.
In March this year, Singapore-based Omega TC Holdings was planning to acquire minority stake in Roots Corporation. It was planning to invest Rs.150 Cr in various tranches and also acquire CCPS from some existing holders for Rs.70 Cr.
Performance of the Company:
| (Rs Mn) | 2010 | 2009 | 2008 |
| | | | |
| Sales | 582.31 | 388.35 | 261.58 |
| | | | |
| EBITDA | 68.9 | -75.43 | -53.61 |
| | | | |
| PAT | -24.12 | -223.11 | -104.8 |
| | | | |
| Share Capital | 1910 | 1910 | 510 |
| | | | |
| Total Debt | 1342.29 | 991.34 | 1513.22 |
Tata Capital's $550 Mn Tata Opportunities Fund specializes in growth capital and buyouts. It is a sector agnostic fund. It had a final close of $550 million in September this year. A final tranche of $100 million was raised during the last quarter.
Last month, Svenska Design Hotels raised Rs30Cr mezzanine funding from 
DMI Finance for setting up hotels in Tier 2 & 3 cities; while in September ITC acquired 26% stake in Logix Group's five star hotel property in Riviera 105.
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Tags
acquire ,
raised ,
,
Tata Opportunities Fund ,
Roots Corporation Limited ,
Ginger ,
IndiOne ,
Indian Hotels Company ,
Svenska Design Hotels ,
DMI Finance ,
Riviera 105 ,
ITC
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 27/01/12 |
Oriental Hotels (Exit) - Ginger Hotels - Omega TC Holding Pte |
M&A |
Omega TC Holdings Pte Limited |
- |
| 30/11/11 |
Ginger Hotels - Tata Capital |
Private Equity |
Tata Opportunities Fund |
- |
| 16/03/11 |
Roots Corporation - Omega TC Holdings |
Private Equity |
Omega TC Holdings Pte Limited |
33.26 |
| 16/03/11 |
Roots Corporation - Omega TC Holdings (CCPS) |
Private Equity |
Omega TC Holdings Pte Limited |
15.50 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 16/05/12 |
Private Equity |
HSBC India Alpha (Mauritius) Limited |
Speciality Restaurants Private Limited |
4.88 |
Completed |
| 02/05/12 |
Private Equity |
APG Fund |
Lemon Tree Hotels Private Limited (Krizm Hotels Private Limited) |
123.34 |
Completed |
| 25/04/12 |
Private Equity |
New Silk Route Partners LLC |
Adiga Fast Food Private Limited |
- |
Completed |
| 19/04/12 |
M&A |
Samhi Hotels Private Limited |
Royal Orchid Ahmedabad Private Limited (Formerly Satkar Realties Private Limited) |
12.91 |
Completed |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| Tata Opportunities Fund |
|
Sector Agnostic |
|
|
Company |
| Name | Promoters | Office | Competitor | Website |
| Roots Corporation Limited (Ginger Hotels) |
Indian Hotels Company Limited |
Godrej And Boyce complex, Gate No.8, Plant No.13, Office Building, Vikhroli. |
|
www.gingerhotels.com |
