Tata Capital’s private equity fund Tata Private Equity has purchased a 10% stake in Roots Corporation, which runs Indian budget chain Ginger Hotels.

The $550m Tata Opportunities Fund, the largest ticket-sized fund within Tata Capital’s private equity franchise, completed the Rs10bn ($191m) purchase, according to The Times of India.

In 2004, Roots Corporation, an arm of the Indian Hotels Company (Taj Hotels), ventured into the budget hotel market through the launch of Ginger.

In 2010-11, the Ginger Hotels chain reported a loss of Rs88m and a turnover of Rs780m.