WestBridge invests $56.8 M in Royal Orchid

WestBridge invests $56.8 M in Royal Orchid

By siliconindia staff writer   |   Friday, 21 October 2005, 07:00 Hrs
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BANGALORE: The Royal Orchid Hotels Ltd, a leading hotel, restaurant and hospitality player in the Bangalore, announced that WestBridge Capital Partners would be making a significant equity investment in the company.

WestBridge, the largest and most active venture capital fund in India, focuses on high growth companies that target both domestic and export markets across a variety of sectors including Outsourced Services, Information Technology and Internet.

Chander K. Baljee, CMD, Royal Orchid Hotels Ltd, said, "We welcome the investment from WestBridge Capital Partners and look forward to working with them to grow our presence in India. With many financing opportunities on the table, we chose to take the funding, that best aligns with our overall business objectives, from financiers who share the vision of creating industry leaders."

K.P Balaraj, MD, WestBridge said, "We are very excited to be an investor and partner with Chander Baljee and his team. We saw a unique, high growth-potential company, a strong management team and an emerging market need that made Royal Orchid Hotels a very attractive investment. Royal Orchid is a market leader in the Bangalore hotel market and is one of the most profitable companies in the Indian hotel industry. We look forward to working closely with the company as they execute their vision to build Royal Orchid into a top 5 hotel brands in India."

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