Upcoming IPO: Foodlink F&B Holdings Files DRHP with SEBI to Raise ₹160 Crore

Mumbai-based luxury food services company, Foodlink F&B Holdings (India), has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking its intention to go public through an initial public offering (IPO). Foodlink may consider a pre-IPO placement of approximately ₹32 crore. If executed, the fresh issue size will be adjusted accordingly.

The equity shares will be listed on both the BSE and NSE. Equirus Capital and JM Financial are appointed as the book running lead managers, while MUFG Intime India will serve as the registrar to the issue.

Foodlink F&B IPO Details

The proposed Foodlink F&B IPO comprises two components:

• Fresh issue of equity shares worth up to ₹160 crore
• Offer for Sale (OFS) of over 1.19 crore shares by the company's promoters and existing investors

The OFS will see partial stake divestments from:

• Promoters: Ankita Chugh, Sanjay Manohar Vazirani, and Trans Global Hotels LLP
• Investors: Arpit Khandelwal, V’Ocean Investments, Oaks Asset Management, Aarkay Investments, Welspun Group Master Trust (through trustee Balkrishan Goenka), Aarin Capital Partners (represented by T.V. Mohandas Pai and Ranjan Ramdas Pai), and Bona Terra Greenhouses LLP

Utilisation of IPO Proceeds

According to the DRHP, the net proceeds from the fresh issue will be allocated towards:

• Setting up two centralised kitchens
• Expanding the company's footprint through four new casual dining restaurants under its material subsidiary, Foodlink Global Restaurants & Catering Services
• Repayment of existing debt
• General corporate expenses

Also Read: Upcoming IPOs This Week (June 30 - July 4): 2 Mainboard IPO Debuts to Watch

About Foodlink F&B

Foodlink F&B Holdings is recognised for delivering premium, curated culinary experiences across various formats. Its business segments include:

• Event catering
• Casual dining restaurants and cloud kitchens
• Banquets and integrated F&B services

The company’s clientele includes prominent names like Hardcastle Restaurants (McDonald’s India franchisee), Zee Entertainment, and Greenply. Operating under flagship brands such as India Bistro, Art of Dum, China Bistro, and Glocal, the company manages 30 casual dining restaurants and cloud kitchens across India and the UAE.

For the nine-month period ending December 31, 2024, Foodlink reported:

• Revenue from operations: ₹306.38 crore
• Profit after tax: ₹7.39 crore

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