Private equity firm CX Partners is picking up a majority 50.1 per cent stake in Dindigul Thalappakatti Biriyani for Rs 260 crore in what will be one of the largest investments in a local restaurant chain brand in India. The deal with the iconic Tamil Nadu restaurant, which started with just one outlet in a small town in 1957, will value it at close to Rs 600 crore which includes a share purchase from promoters besides fresh capital infusion for expansion.

— The Times of India

Desai & Diwanji advised the Dindigul Thalappakatti Biryani chain and its promoters led by a team of partner Siddharth Mody, senior associate Rahul Deodhar and senior associate Prerana Chaudhari.

Platinum Parners advised CX Partners, vide CX Alternative Investment Fund, led by a team including partner Ankit Majmudar and partner Gautam Bhat. The due diligence team included associates Niruti Pangotra, Lohitash Sirsikar, Unnati Divecha, Ritika Chatterjee, Chitrangda Singh and Jayantika Khanna. The drafting, negotiation and closing of transaction documents team included associates Niruti Pangotra, Lohitash Sirsikar and Jayantika Khanna.

2019-10-21

Deal value: Rs 260 crore, according to TOI report

{incomplete}