TVS Capital Fund invests in ICPL

TVS Shriram Growth Fund headquartered in Chennai has invested in Indian Cookery Private Limited(ICPL), restaurant venture of chef Sanjeev Kapoor and Better Value Brands Private Limited. The company is all set to open 300 outlets via franchising, ownership and self management in next five years, however the investment amount has yet not been revealed by the company.

Indian Cookery owns various restaurant brands like The Yellow Chili, Khazana and Indii and operates 16 ‘The Yellow Chili’ restaurants in cities like Mumbai, Bangalore, Hyderabad, Guhawati, Ludhiana, Ahmedabad, Bhuj, Panchkula, Jalandhar, Pune and NCR. The company aspires to open more outlets in Chandigarh, Kolkata, Ludhiana, Kathmandu, four in Bahrain, and eight in Saudi Arabia. Indian Cookery has two2 Khazana restaurants in Dubai and Doha, Qatar and plans to open three in Saudi Arabia.

Better Value Brands has brands like Talwalkars Better Value Fitness, Brainworks Learning System (a playschool firm) in its portfolio.

Previously, TVS Shriram Growth Fund invested Rs 50 crore in Om Pizzas & Eats Private Ltd, Indian franchisee of worldwide chain of Papa John’s Pizza, Chili’s Grill & Bar and The Great Kabab Factory.