Impresario in Acquisition Talks Ahead of IPO Push
Impresario Entertainment & Hospitality in talks to acquire mid-sized restaurant chains ahead of planned IPO.
By SOH Edit Team
Impresario Entertainment & Hospitality, which operates popular casual dining brands including Social, Smoke House Deli and Mocha, is in discussions with around six mid-sized restaurant chains and café businesses for potential acquisitions. The strategy is aimed at scaling operations and integrating these businesses under its holding company structure as it prepares for a proposed public listing in the coming years.
The acquisition push comes as competition in India’s food and beverage sector continues to intensify, prompting larger players to pursue consolidation. Impresario is majority-owned by India Resurgence Fund (IndiaRF), which has been backing the company’s growth and expansion strategy.
Financial Performance
According to regulatory filings, Impresario reported revenue of $95 million (approximately ₹810 crore) in FY25, marking an 18% year-on-year increase. The company also returned to profitability during the year, posting a profit after tax of $2 million, compared with a net loss of $1.7 million in FY24. Social remains the company’s largest brand, accounting for nearly 75% of total revenue.
As of March 31, 2024, Impresario operated 88 restaurants and cafés across its portfolio, which includes Social, AntiSocial, Smoke House Deli, Prithvi Café and Mocha. In addition to its dine-in presence, the company has expanded into delivery-only concepts such as Boss Burger, Hung-Li and Lucknowee, reflecting its focus on multi-format growth.
Ownership & Key Investors
IndiaRF currently holds a 60% stake in Impresario following its acquisition of shares from Sensational Eatery. The investment platform—backed by Piramal Enterprises and Bain Capital Credit—invested ₹550 crore in November 2022 to become the majority shareholder. The promoter group owns 16.4% of the company, while the remaining stake is held by angel investors, other shareholders and employees through stock options, according to data from Tracxn.
IndiaRF’s investment followed the exit of consumer-focused private equity firm L Catterton Asia, which had invested in Impresario in 2017 and exited after a five-year holding period.
