Navis Capital acquired the remaining stake in Delhi-based fast-food chain Nirula's Corner House Pvt Ltd, held by Samir Kuckreja.

Navis Capital had acquired a majority stake in Nirula for Rs 90 crore and post-acquisition, it invested Rs 30 crore directly and procured another Rs 20 crore from franchisees for store roll-outs, equipment and kitchens.

Set up in 1934, Nirula's Corner House operates restaurants under the brand name Nirula's, casual dining outlets called Nirula's Potpourri and two hotels. The group is present in 85+ locations across Delhi and NCR, Uttar Pradesh, Maharashtra, Madhya Pradesh, Uttaranchal, Haryana, Rajasthan and Punjab.

Nirula's operates largely on the franchisee structure and its stores include dine-in restaurants, pastry shops, ice-cream parlours, hotels and coffee shops.

Founded in 1988, Malaysia-based Navis Capital Partners has a strategy of buying majority stake into companies. Last year, it bought majority stake in Mumbai-based Classic Stripes Private Limited for $100 million. It recently was planning to invest Rs 150 crore in Mumbai-based Twilight Litaka Pharma Ltd.

The F&B sector is buzzing with New Silk Route Partners investing in Adiga's, the South Indian vegetarian restaurant and fast food chain. Sequoia invested $5Mn in Pune-based Kebab and wraps chain Faaso's.