AZB & Partners helps biryani brand in raising growth capital
Dindigul Thalappakatti brand now values at Rs.860 crores
The Dindigul Thalappakatti (DT) restaurant chain that operates primarily in India’s Tamil Nadu state is set for a massive expansion. It plans to further set up 25-30 restaurants and cloud kitchens in the next one year. The brand currently operates over 85 restaurants and cloud kitchens globally.
In October 2019, a conglomerate led by private equity firm CX & Partners had picked up a majority stake for Rs.235 crores in the biryani brand. It was one of the largest investments in India’s local restaurant chain brand. DT was then valued at Rs.450 crores.
Assisted by corporate law firm AZB & Partners, this round of investment will enable DT to fast-track its growth plans. Its focus markets include Kerala, Andhra Pradesh, Telangana, Karnataka and Sri Lanka.
Tree Line Investment Management led the funding, along with other private and public individual investors, including the Havells Group.
The restaurant’s roots date back to 1957 when Nagasamy Naidu founded the first outlet under the name Anandha Vilas Biryani Hotel in Dindigul, a city in Tamil Nadu. Naidu always wore a thalapa (a traditional head dress or turban). Over the years, the name of the city and the turban became synonymous with the biryani brand.