Mumbai, Aug. 11 -- Hyderabad-based ABR Cafe & Bakers Pvt. Ltd, which operates Cafe Niloufer, known for its Irani chai and bun maska, is working with advisors to explore a fundraising from external investors, three people familiar with the matter said.

"The company has engaged PwC and The Rainmaker Group to explore funding options from external investors," one of the people cited above said. "The deal is in the early stages and details regarding the quantum of the stake sale are yet to be decided," a second person added.

The deal has yet to launch, but a potential transaction could value the company at around Rs.1,500-1,800 crore, roughly implying a 4-5x forward-looking revenue multiple, a third person said on the condition of anonymity....