Upcoming IPO: Foodlink F&B Holdings Files Papers For Maiden Issue With SEBI

The IPO is a mix of fresh issue of equity shares of up to Rs 160 crore and an offer for sale of over 1.19 crore shares by promoters and investor selling shareholders.

Also, the company may undertake a pre-IPO placement round to raise around Rs 32 crore. If such a placement is undertaken, then the size of the fresh issue will be reduced.

Source : 365financialanalyst

Foodlink F&B Holdings (India), a catering and food retail chain company, has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The IPO is a mix of fresh issue of equity shares of up to Rs 160 crore and an offer for sale of over 1.19 crore shares by promoters and investor selling shareholders, according to the draft red herring prospectus (DRHP) filed on Friday.

As part of the OFS, promoters -- Ankita Chugh, Trans Global Hotels LLP and Sanjay Manohar Vazirani -- will be offloading their stakes in the company.

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 were the other investors who will divest their holdings in the company.

Also, the company may undertake a pre-IPO placement round to raise around Rs 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. 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, the company reported a revenue from operations of Rs 306.38 crore and profit after tax of Rs 7.39 crore.

The company's shares are proposed to be listed on the BSE and NSE.

Equirus Capital and JM Financial are the book running lead managers while MUFG Intime India is the registrar for the public issue.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)