India-based TVS Shriram Growth Fund has invested $11 million in Om Pizzas and Eats Private Limited, which is promoted by Bahrain-based Jawad Business Group (JBG).

JBG chairman and chief executive officer Faisal Jawad said his group has worked very closely with TVS Capital, which manages the TVS Shriram Growth Fund, over the last few months and are delighted that TVS Capital will be joining hands with us as we seek to enhance our share of the growing Indian out-of-home consumption market.

'The brands in our portfolio in the form of Papa John's Pizza, Chili's Grill and Bar and The Great Kabab Factory have what it takes to be formidable players in the pizza and casual dining segments in India and TVS Capital's investment is very timely in terms of allowing us to capture the growing momentum in these segments.'

Om Pizzas holds franchise rights in India for multiple brands such as Papa John's Pizza, Chili's Grill & Bar and The Great Kabab Factory.

JBG has the franchise for several global restaurant and retail brands, and operates more than 650 restaurant and retail outlets across the GCC.

TVS Capital chairman and managing director Gopal Srinivasan said Om Pizza's focus on organised food services industry fits well with the fund's focus on consumption driven opportunities and provides us exposure to significant macro driven opportunities in the eating out market.

'We are keen to partner with JBG to scale their outlets across India over the next four years.

'JBG has strong expertise of operating international brands and brings more than 10 years of relationships with several of these brands.'

Om Pizza currently operates 28 restaurant outlets across India.

Papa John's Pizza outlets are based in New Delhi, Mumbai, Bangalore and Pune.

The company has Chili's Grill & Bar restaurants in Mumbai, Bangalore and recently opened in Hyderabad.

Hemu Ramaiah (co-founder of Landmark Book Stores), venture adviser to TVS Shriram Growth Fund, is working very closely with the company over the past couple of months.

He said the experience of building the International brand of Papa Johns' in India is as exciting as creating the Landmark Bookstore chain.

TVS Capital executive director Suresh Raju said the organised branded food services industry is expected to see strong growth in the future with increase in propensity to eat out, nuclear families, working women, growing disposable incomes and urbanisation.

'We are very excited to have Hemu provide operational and strategic support to Om Pizza.'

Lodha Capital Markets acted as exclusive advisers to Om Pizza & Eats in this transaction.-TradeArabia News Service