New Delhi/Mumbai, December 11
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In a development that has caught the attention of the hospitality and investment circles, Indian cricket captain Virat Kohli is learnt to have put his entire stake in the premium restaurant chain One8 Commune on the block for an enterprise value of around ₹250 crore.
Sources privy to the matter said the process is being handled through a formal sale mandate given to an investment banking firm, with several private equity players and large restaurant operators already in early discussions.
The chain, launched in 2019 as a joint venture between Kohli and Bengaluru-based hospitality company Olive Bar & Kitchen Pvt Ltd, currently operates around a dozen outlets across cities such as Mumbai, Delhi, Kolkata, Pune and Bengaluru. It positions itself in the premium-casual dining segment with per-cover billing of ₹2,000–2,500.
What has raised concerns among some industry watchers is the timing of the exit, coming barely six years after the high-profile launch that had seen Kohli actively promote the brand on social media and through personal appearances.
According to industry estimates, One8 Commune clocked revenue of approximately ₹80–90 crore in FY24, with same-store sales growth remaining flat or marginally negative in several locations post the pandemic boom.
Observers note that Kohli had invested close to ₹30 crore of his personal funds in the venture and held a little over 40 per cent stake through his investment vehicle. The proposed transaction is expected to deliver him a reasonable return, though well short of the aggressive valuations once discussed during the 2021 funding frenzy.
Neither Kohli’s business manager nor representatives of Olive Bar & Kitchen responded to queries sent on Wednesday evening. A formal announcement is likely once a binding offer is in place, sources added.
