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L’Opera to raise INR 43 cr; plans 66 outlets in India by FY22

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Delhi-based French patisserie and bakery chain L’Opera is planning to raise INR 43 crore to fund its expansion plans of having a total of 66 outlets across the country by 2021-2022. The company has 15 outlets together in Delhi, Gurugram and Dehradun. “We are in the final phase of a due diligence by a principal investor to raise INR 43 crore which will allow us to expand from 15 outlets to 66 outlets by fiscal year 2022,” said Kazem Samandari, executive chairman, L’Opera.

“We expect this to close by end of September this year,” he added. This will allow the company to launch its outlets in Mumbai, Chennai, Bengaluru and Pune and expand the presence in Delhi/NCR, Samandari said.

The company will also open two more regional production centres in Mumbai and Bengaluru and will have satellite production centres in Pune and Chennai, he added. As part of providing the premium experience, “L’Opera has inked a pact with PVR and has opened a new outlet, L’Opera Salon de Thé by PVR, at PVR’s standalone luxury format Director’s Cut in Delhi. It is a joint effort by PVR and L’Opera,” Samandari said. L’Opera started operations in 2010 and opened its first flagship outlet in Delhi in March 2011.

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