The part of Max Group, Max Ventures and Industries said that it is going to invest up to Rs 33.5 crore in Azure Hospitality which owns and operates Mamagoto restaurant chain.

Max Ventures and Industries Ltd (MVIL) has said in a statement that the company will be co-investing in the second round for the Azure Hospitality with Goldman Sachs, the key investor in the first round.

Analjit Singh, Max Group Chairman Emeritus and Founder said that “Max Ventures and Industries was always planned as a fertile place for ideas, new projects and investments.”

Rahul Khosla, Max Group President has said that “this investment marks a key milestone for the group as it directly bears out the strategic intent behind the demerger, of allowing the group to explore newer avenues through MVIL,” Whereas the other two holding companies, Max Financial Services and Max India would focus on existing business, he said.

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