Grid Logic Hotels to raise $10 mn via PE firms to expand overseas business

As part of its offshore plans, company has identified locations in Singapore and the US

Hyderabad-based Grid Logic Hotels and Resorts said it would be signing a term-sheet with a Singapore-based Private Equity firm to raise $5 million for its plans of business expansion outside India. The term-sheet would be signed on June 8, said the company while adding that it is also in talks with another private equity firm to raise a similar amount that will help the resturaunt chain add a couple of international locations to its kitty. 

According to the company, negotiations with the second firm are at an advanced stage and include acquisitions in the restaurants space. As part of its