Mumbai, Dec. 25 -- Pulsar Capital, a Dubai-based investment firm, is in advanced discussions to acquire Bengaluru-based Nandhana Palace, an Andhra-cuisine restaurant chain, two people familiar with the matter told Mint.

The deal size is expected to be $50-60 million ( Rs.449-538 crore) and would likely provide a full exit to the promoters, one of the people said, adding that the transaction is likely to close in the coming weeks.

The acquisition is part of Pulsar's broader strategy to build a food platform through the consolidation of multiple assets, the second person said.

Both spoke on the condition of anonymity.

The mid-market private equity firm has a strong footprint across India, West Asia and other emerging markets. Led by for...