New Delhi, July 16 -- The promoters of the southern India restaurant chain Adyar Ananda Bhavan have relaunched the deal to sell a stake in the company, valuing it at Rs.3,000-3,500 crore.

Bodhi Tree, the investment platform backed by James Murdoch's Lupa Systems and vice-chairman of JioStar Uday Shankar, is said to be in advanced discussions to invest in the company for a significant minority to a majority stake, three people with direct knowledge of the deal said.

"The deal discussions that went cold more than a year ago has been restarted. Bodhi Tree is doing the deal," said one of the persons cited above.

The company, backed by the likes of the Qatar Investment Authority, is likely creating a special purpose vehicle (SPV) to finance...