Shilpa Shetty-backed Bastian Hospitality in talks to raise capital for India, overseas expansion

Mumbai|NewDelhi: Fine-dining chain Bastian Hospitality, co-owned by restaurateur Ranjit Bindra and actor Shilpa Shetty, is in the early stages of raising fresh capital from private equity firms or strategic investors to support its expansion plans in India and overseas, said people familiar with the matter.

Bastian, which is looking to sell a 20-25% minority stake in the business, has sent feelers to potential investors, the people said. They didn't disclose the size of the proposed fundraise and the expected valuation.

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Bastian runs a chain of premium restaurants and luxury dining destinations. It is now planning to diversify into bars, cafes, bakeries, members' clubs, and all-day social spaces as part of the next phase of growth.

Shilpa Shetty and Ranjit Bindra each own 45.87% of the company, through investment arms Shilpa Yog Pvt Ltd and Aallia Hospitality Pvt Ltd, respectively. Krystal Family Holdings has a 8.2% stake, per Tracxn data.

Confirming the fundraising exercise, Bindra told ET the company is actively weighing opportunities with strategic partners but declined to elaborate. "We expect to evaluate opportunities to bring on the right strategic and financial partners who can accelerate our long-term vision," he said. "We are also actively evaluating opportunities with strategic partners in international markets."

Founded in 2014 by Bindra, Bastian Hospitality-formerly Aallia Hospitality-currently has eight outlets across Mumbai, Goa, Bengaluru, Pune, and Ahmedabad under brands such as Bastian At The Top, Bastian Beach Club, Bastian Garden City, Bastian Empire, Bastian Riviera and Maison Twenty-Seven.

Bindra, also the company's CEO, said the company is targeting revenue of ₹1,000 crore in FY27. "Over the next 12-18 months, alongside the launch of Maison Twenty-Seven in partnership with the Adani group, we are introducing multiple new concepts," he said, responding to an email query.

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Bastian's fundraising plans come amid elevated investor interest in food services from PE firms and strategic investors as investors bet on a growing set of younger consumers, increasing traction of dining-out, and food delivery platforms facilitating last-mile delivery to even Tier 2 and 3 pin codes.