Mirah Group, owner of well-known resto chain ‘Rajdhani Thali’ and QSR chain Falafels, is planning to raise PE funds to expand its Citrus chain of hotels, which would mark the first such fund raise for the group as stated by Mint.
The group also plans to expand its F&B business through own funds and MD Gaurav Goenka did not reveal the amount of funds that will be raised.
He added the company’s plan to add nine more Citrus hotels to the existing eight for which the land has been acquired and that cost of construction for a single room in the hotel comes up to around R75 lakh.
Zodius Capital has closed first tranche of its second fund Zodius Capital II at R700 Cr ($110 Mn). The $500 Mn fund was launched in last year along with Alternate Asset Management, a subsidiary of Avendus Capital.