India's richest man Mukesh Ambani wants a bite out of the world's largest singlebrand restaurant chain, Subway Inc. As per reports Reliance is looking to acquire the Indian Franchise of Subway for close to $250 million.
ET reports quoting undisclosed sources that Reliance is in conversation with PE investors to take over the 600+ Subway stores across India and is willing to pay nearly Rs 1500 cr for it.
Ambani will face off market leader Domino's in the quick service restaurant (QSR) segment who maintains the giant lead of 21% market share followed by 11% held by McDonald's in India.