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Chandigarh: Foodlink F&B Holdings (India) Ltd, a premium food services and restaurant company, has officially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a key milestone in its growth journey as it prepares to raise funds through an Initial Public Offering (IPO).
The proposed IPO will include a fresh issue of equity shares worth up to ₹160 crore and an offer for sale (OFS) of over 1.19 crore equity shares by the company’s promoters and early investors. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), subject to regulatory approvals.
This strategic move positions Foodlink among the growing number of Indian hospitality brands tapping the capital markets to fund their expansion, especially in the premium dining and events catering segments.
IPO Composition and Shareholder Divestments
According to the DRHP, the IPO comprises two components:
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A fresh issue amounting to ₹160 crore
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An offer for sale (OFS) involving key stakeholders
Prominent shareholders participating in the OFS include:
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Promoters: Ankita Chugh, Trans Global Hotels LLP, and Sanjay Manohar Vazirani (the founder and CEO of Foodlink)
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Institutional and strategic investors:
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Arpit Khandelwal
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V’Ocean Investments
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Oaks Asset Management
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Aarkay Investments
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Welspun Group Master Trust, represented by industrialist Balkrishan Goenka
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Aarin Capital Partners, represented by T.V. Mohandas Pai and Ranjan Ramdas Pai
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Bona Terra Greenhouses LLP
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These existing shareholders are looking to monetize part of their holdings, signaling investor confidence in the company’s scalability and potential future returns post-listing.
Additionally, the company is considering a pre-IPO placement of up to ₹32 crore. If this fundraising round materializes, the size of the fresh issue in the IPO will be proportionally reduced.
Utilization of IPO Proceeds
Foodlink intends to utilize the net proceeds from the fresh issue to fuel its ongoing domestic and international growth. Key areas of capital allocation include:
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Establishment of two new centralized kitchens in India, which will enhance production capacity and streamline operations for both event catering and cloud kitchen formats
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Investment in Foodlink’s material subsidiary, Foodlink Global Restaurants & Catering Services, to launch four new casual dining restaurants under its flagship brands
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Repayment and prepayment of existing borrowings, thereby strengthening the balance sheet and reducing finance costs
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General corporate purposes, which may include working capital, marketing initiatives, and technology upgrades
A Global Luxury Culinary Brand with Indian Roots
Headquartered in Mumbai, Foodlink F&B Holdings (India) is a fast-growing global luxury food services enterprise. With its origin in high-end events catering, the company has since diversified into a full-service food & beverage model, comprising:
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Luxury events catering, offering bespoke services to elite clients and corporate groups
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Casual dining restaurants and cloud kitchens operating across India and the UAE
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Integrated banquets and hospitality food services for hotels, weddings, and large-scale events
Its clientele features a high-profile roster, including:
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Hardcastle Restaurants Pvt Ltd – the master franchisee of McDonald’s India (West & South)
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Zee Entertainment Enterprises Ltd
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Greenply Industries Ltd
These partnerships reflect the company’s established reputation for quality, customization, and customer service in the competitive premium F&B space.
Brand Portfolio and Global Footprint
Foodlink operates more than 30 restaurants and cloud kitchens under popular brands such as:
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India Bistro
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China Bistro
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Art of Dum
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Glocal Junction
These outlets are spread across key metro cities in India and in the United Arab Emirates (UAE), where Foodlink has established a notable presence among the Indian diaspora and international food lovers.
The company continues to build its international footprint through franchising, joint ventures, and strategic partnerships, particularly in the Middle East and Southeast Asia, where demand for Indian cuisine and curated dining experiences is growing.
Lead Managers and IPO Strategy
The IPO is being managed by leading investment banks:
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Equirus Capital
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JM Financial
Meanwhile, MUFG Intime India Pvt Ltd has been appointed as the registrar to the issue. The professional team of underwriters and advisors is expected to support Foodlink in achieving optimal pricing and investor participation during the IPO.
Outlook and Industry Context
Foodlink’s IPO arrives at a time when India’s organized food services industry is experiencing robust growth, driven by urbanization, rising disposable incomes, and a growing demand for diverse and experiential dining. According to industry analysts, the Indian food services market is poised to reach over ₹6 trillion in the next five years.
With its strong brand equity, proven business model, and ambitious expansion roadmap, Foodlink F&B Holdings is well-positioned to capitalize on this growth trajectory. The IPO is not just a capital-raising event—it signals the company’s readiness to scale globally and become a leading name in luxury culinary experiences.
