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Temasek, ChrysCap brew up plans for Blue Tokai stake, put Rs 1000-1200 crore on the table

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Temasek, ChrysCap brew up plans for Blue Tokai stake, put Rs 1000-1200 crore on the table

Temasek, ChrysCap brew up plans for Blue Tokai stake, put Rs 1000-1200 crore on the table

The deal will value Blue Tokai chain at up to Rs 3,700 crore. This will be the largest round for the roasters so far, and will involve a combination of primary and secondary fundraising to help expansion and provide exit to earlier investors.

New Delhi|Mumbai: Singapore investor Temasek Holdings is vying with ChrysCapital to invest Rs 1,000-1,200 crore in Blue Tokai Coffee Roasters at a Rs 3,550-3,700 crore valuation and emerge as its single largest shareholder, people aware of plans told ET. The 13-year-old homegrown specialist coffee chain, one of the strongest competitors of Starbucks in India, has been in the market scouting for growth equity after turning Ebitda-positive on a monthly basis for the past six months. It is seeking funds to triple its store network in India, expand in Japan and the UAE, and offer liquidity to existing seed investors. Advt

The capital raise is expected to see one investor end up owning 30-33% of the company, or the stake split between two to further diversify cap table. Its current investors include Verlinvest — family office of world’s largest brewer, AB Inbev — A91 Emerging Fund, Waterfield Fund, 12 Flags and Waterfield Fund, among others. This will be the largest round for the roasters so far, and involve a combination of primary and secondary fundraising. Blue Tokai ’s total equity funding across 13 rounds stands at $113 million. Blue Tokai’s current valuation is Rs 2,280 crore, with the founders’ aggregate shareholding at Rs 349 crore as of August 7, according to Tracxn.


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