WiproBSE -1.56 % founder Azim Premji has agreed to invest $25 million (about Rs 130 crore) in JSM Corp, which runs Hard Rock Cafe and California Pizza Kitchen restaurants in India.
The investment will be through Premji's venture capital and private equity fund Premji Invest, three people close to the development told ET.
Jay Singh,
co-founder and executive director of JSM, refused to comment. "As a policy we do not comment on financial related matters of the organisation," he said.
An email query sent to Prakash Parathasarathy, chief investment officer of Premji Invest, did not elicit any response till late on Thursday.
JSM Corp will use the funds to expand and building brand, an investment banker privy to the company's plans said. The plan is to have 100 outlets by end of FY14, the banker said.
tarted by restaurateurs Jay Singh and Sanjay Mahtani, JSM currently has 12 outlets and its portfolio includes Shiro lounge, Hard Rock Cafe and California Pizza
WiproBSE -1.56 % founder Azim Premji has agreed to invest $25 million (about Rs 130 crore) in JSM Corp, which runs Hard Rock Cafe and California Pizza Kitchen restaurants in India.
The investment will be through Premji's venture capital and private equity fund Premji Invest, three people close to the development told ET.
Jay Singh,