Everstone Capital is investing $20Mn in JS Hospitality Services for a 45% stake. The funds will be used for expanding it's network of quick service restaurants across the country.

JS Hospitality services operates about 30 Pind Balluchi restaurants, mostly in the National Capital Region, serving north Indian cuisine.

Quick service restaurants have attracted a lot of PE/VC interest in past couple of years. In October, Sequoia invested $5Mn in Pune based Kebab and wraps chain - Faaso's.

Before that in August, India Equity Partners invested $35Mn in Sagar Ratna, a Delhi-based South Indian restaurant chain. The investment gave the New York-based PE fund a controlling stake in the chain. Goli VadaPav also raised $4.7Mn from Ventureast.

In May, ICICI Venture invested $33Mn in RJ Corp’s Devyani International, which runs Pizza Hut, Costa Coffee and KFC across India. But neither could match New Silk Route’s $75Mn infusion into Café Coffee Day in April last year.

This is Everstone's third investment in two months. Last month, it invested Rs60Cr in Delhi based Ozone Overseas Ltd for minority stake.

Everstone Capital has recently invested in Rs150cr in plant nutrient manufacturer - Crystal Crop Protection, while its other investments include Regen Powertech, Indostar Capital, Asian Genco, B.E.Billimoria & Company, Centrum Capital, Future E-Commerce Infrastructure, Future Media, Nashik Vintners,etc.

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