Speciality Restaurants spurts as board to mull fund raising

Speciality Restaurants soared 12.01% to Rs 220.60 after the company announced that its board will meet on Wednesday, 21 December 2022 to consider proposal for fund raising by way of issue of equity shares or any other eligible convertible securities.

In an exchange filing the company said, The meeting of the board of directors of the company is scheduled to be held on Wednesday, 21 December 2022, inter-alia, to consider and evaluate proposals for raising of funds by way of issue of equity shares or any other eligible convertible securities, through permissible modes, subject to all such regulatory/ statutory approvals as may be required including the approval of shareholders of the company.

Speciality Restaurants is one of the largest fine-dining restaurant chains in India. Its brands, Mainland China, Asia Kitchen, Oh! Calcutta, Machaan, Sigree/Sigree Global Grill, Haka, Flame & Grill, Cafe Mezzuna and Hoppipola offer a variety of cuisines and dining formats. Sweet Bengal is the company's confectionary brand.

The company's consolidated net profit zoomed 325.8% to Rs 11.07 crore on 51.9% rise in net sales to Rs 93.78 crore in Q2 FY23 over Q2 FY22.

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