Lite Bite Foods to Raise Rs 500 crore through PEs

Lite Bite Foods that runs more than 100+ outlets in the country and global markets has mandated investment advisory firm KPMG to look for investors.
  • Nusra Deputy Features Editor
Lite Bite Foods

Amit Burman promoted Lite Bite Foods is planning to raise Rs 500 crore from private equity.

According to the release, the group is planning to divest a small stake and will use funds to expand in India as well as global market.

Lite Bite Foods that runs more than 100+ outlets in the country and global markets has mandated investment advisory firm KPMG to look for investors.

“We are planning to open at least 45 outlets every year for the next five years,” shared Rohit Aggarwal who is keen on opening Punjab Grill in India and international market along with their other casual dining brands You Mee and Barbeque by Punjab Grill.

The group is also looking to expand their QSR formats by opening Zambar Tiffins, Asia 7 Express and Street Food by Punjab Grill at malls and neighbourhood markets in tier-I and tier-II cities.

"Domestic and international retail food business offers a lot of scope in newer markets and we plan to expand our presence in the next five years," he added.

The company is expecting revenue of Rs 310 crore for the financial year 2019-20 from its 110 outlets through retail business only. The airports business contributes almost the same amount to company's revenue, making it one of the biggest self-funded food and beverage enterprise.

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