Tata Capital may buy Rs 50 cr ($7.8m) stake in deGustibus Hospitality

Economic Times Sept 17
MUMBAI: Tata Group-owned private equity fund Tata Capital has begun talks with deGustibus Hospitality, the company which owns Indigo chain of restaurants, to acquire a significant minority stake by investing Rs 50 crore to help open new restaurants in metro cities, two people familiar with the development said. Tata Capital has given a term sheet to deGustibus Hospitality to buy a stake between 20% and 25% which valued the company at Rs 200 crore. In M&A parlance, term sheet refers to the intention of both the buyer and seller to enter into serious negotiations to finalise the price and equity stake.
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