PL Investment Banking has raised $15 million in a preferential issue, while Nextiva has acquired AI customer experience platform Simplify360.
Speciality Restaurants to expand footprint
PL Investment Banking, the investment banking and corporate advisory arm of the Prabhudas Lilladher Group, has raised $15 million by issuing 60 lakh warrants, convertible into equity shares of Speciality Restaurants Limited, in a preferential issue.
Speciality Restaurants operates restaurant brands Mainland China, Oh! Calcutta, Sigree Global Grill, Episode One, Haka, and confectionary Sweet Bengal and Dariole.
The company’s paid-up equity share capital will increase by 12.78% on the conversion of warrants into equity shares.
The proceeds from the preferential issue will be used to support Speciality Restaurants’s growth initiatives and to fund the upgradation of its restaurants. This includes capital expenditure for the development of new restaurants, confectionaries, and commissaries in various cities across India and for general corporate purposes, the company said.
Nextiva enters APAC market with Simplify360
Nextiva said it has acquired Simplify360, an AI customer experience platform based in India.
The acquisition of Simplify360 opens up the Asia-Pacific market for Nextiva, the company said. Nextiva was valued at $2.7 billion by its first and latest financing round in late 2021.
Some of Simplify360’s customers include Amazon, Honda, HP, Nestle, HDFC, Hyundai, Canon, and Xiaomi.
The purchase amount has not been disclosed.