NYLIM to pick 21.5 percent stake in KFC franchisee
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New Delhi: Foreign private equity firm NYLIM Jacob Ballas India Fund is about to buy 21.5 percent equity stake in Devyani International (DI), a company promoted by Ravi Jaipuria company that owns Pizza Hut, KFC and Costa Coffee in India, for more than Rs 300 crore. The deal puts the valuation of the company at around Rs 1,500 crore, reports The Economic Times. Though RKJ Group chairman Ravi Jaipuria declined to comment, a source said that Jacob Ballas is currently awaiting the Foreign Investment Promotion Board's (FIPB) approval. The proposal will come up for clearance next week. Devyani International is a leading franchisee of YUM! Restaurants International, the world's largest restaurant company with over 34,000 restaurants in more than 100 countries. The deal, according to sources, will help Devyani expand its operations across India. "The idea is to add the number of franchisee outlets in cities where we have a presence and set up shop in others," said a source on condition of anonymity. NYLIM Jacob Ballas India Fund is a part of Jacob Ballas Capital India, which is a non-banking finance company founded in 1995.

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