Foodlink F&B Holdings Files DRHP with SEBI for IPO

Foodlink F&B Holdings (India) has filed its draft red herring prospectus (DRHP) with SEBI, marking its intent to raise capital through an initial public offering (IPO). The offering will include a fresh issue of equity shares worth ₹160 crore, along with an offer for sale (OFS) of over 1.19 crore shares by promoters and early investors.

Founders Ankita Chugh, Sanjay Manohar Vazirani, and Trans Global Hotels LLP will dilute part of their stakes through the OFS route. Other participating shareholders include V’Ocean Investments, Oaks Asset Management, Aarin Capital Partners (backed by T.V. Mohandas Pai and Ranjan Ramdas Pai), Welspun Group Master Trust, and Bona Terra Greenhouses LLP.

The company may also explore a pre-IPO placement of around ₹32 crore, which would lead to a corresponding reduction in the size of the fresh issue if executed. As outlined in the DRHP, the proceeds from the fresh issue will be used to set up two new centralized kitchens, and to invest in subsidiary Foodlink Global Restaurants & Catering Services for launching four new casual dining outlets. Funds will also be directed toward debt repayment and general corporate expenses.

Based in Mumbai, Foodlink operates in the luxury food services space, offering curated catering experiences across events, restaurants, cloud kitchens, and banquet services. Its catering clientele includes names like Hardcastle Restaurants (McDonald’s India franchisee), Zee Entertainment, and Greenply.

Under its casual dining and delivery business, Foodlink operates 30 outlets across India and the UAE through its key brands India Bistro, China Bistro, Art of Dum, and Glocal.

For the nine months ending December 31, 2024, the company posted revenue of ₹306.38 crore and a net profit of ₹7.39 crore  Post listing, shares will be traded on the BSE and NSE, subject to regulatory approvals. Equirus Capital and JM Financial have been appointed as book-running lead managers, while MUFG Intime India will act as the registrar to the issue.

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