Foodlink F&B Holdings files DRHP with SEBI for raising funds via IPO
Foodlink F&B Holdings (India), a catering and food retail chain company, has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
Foodlink F&B Holdings IPO is a mix of fresh issue of equity shares of up to ₹ 160 crore and an offer-for-sale (OFS) component of over 1,19,53,535 shares by promoters and investor selling shareholders, according to the draft red herring prospectus (DRHP).
The company's promoters - Ankita Chugh, Trans Global Hotels LLP and Sanjay Manohar Vazirani - will offload their stakes as a part of the OFS in the Foodlink F&B Holdings IPO.
Arpit Khandelwal, V'Ocean Investments, Oaks Asset Management, Aarkay Investments, Welspun Group Master Trust through its trustee Balkrishan Goenka; Aarin Capital Partners through T V Mohandas Pai and Ranjan Ramdas Pai; and Bona Terra Greenhouses LLP are other investors who will divest their holdings in the company, the DRHP showed.
Foodlink F&B Holdings said it may undertake a pre-IPO placement round to raise around ₹ 32 crore. If such a placement is undertaken, then the size of the fresh issue will be reduced.
As per the DRHP, the company proposes to utilise the net proceeds from the fresh issue towards setting up two new centralised kitchens and investment in its material subsidiary Foodlink Global Restaurants & Catering Services for setting up four new casual dining restaurants. Funds will also be used for repayment of debt and general corporate purposes.
Foodlink F&B Holdings shares are proposed to be listed on both the stock exchanges, BSE and NSE.
Equirus Capital and JM Financial are the book running lead managers while MUFG Intime India is the Foodlink F&B Holdings IPO registrar.
Mumbai-based Foodlink F&B Holdings (India) is a global luxury food services business focused on providing curated culinary experiences. Its business model comprises events catering, casual dining restaurants & cloud kitchens, and banquets and integrated F&B services.
In the events catering business its clientele include Hardcastle Restaurant (master franchisee operator McDonald's in western and southern India), Zee Entertainment and Greenply.
It operates 30 casual dining restaurants and cloud kitchens through its flagship brands such as India Bistro, Art of Dum, China Bistro, and Glocal in India and the United Arab Emirates.
For the nine-month period ended December 31, 2024, Foodlink F&B Holdings reported a revenue from operations of ₹ 306.38 crore and profit after tax of ₹ 7.39 crore.
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