Capital firms Aarin and OAKS are considering selling their shares in Foodlink, a food retail company, following its announcement of an Initial Public Offering (IPO). Foodlink is preparing to go public.
Foodlink F&B Holdings (India) Ltd, a leading luxury food services company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise approximately ₹160 crore through an initial public offering (IPO). The offering includes a fresh issue and an Offer for Sale (OFS) of about 1.19 crore shares by promoters and existing investors.
The IPO shares are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Equirus Capital and JM Financial have been appointed as lead managers, with MUFG Intime India serving as the registrar.
Foodlink F&B Holdings operates 30 casual dining restaurants and cloud kitchens in India and the UAE under brands such as India Bistro, Art of Dum, China Bistro, and Glocal. The company caters to prominent clients like McDonald's India franchisee and Zee Entertainment. The proceeds from the IPO will be utilised for expanding operations, setting up two centralised kitchens and four casual dining restaurants, debt repayment, and general corporate purposes.
Investors such as venture capital firm Aarin Capital, backed by Manipal Group's Ranjan Pai, and private equity firm OAKS Asset Management have previously invested in Foodlink F&B Holdings. Aarin Capital Partners is participating as an existing investor in the OFS component, along with other investors like V’Ocean Investments and Welspun Group Master Trust. However, no specific fresh capital raise from these investors is mentioned.
Travel Food Services, the company behind Foodlink F&B Holdings, aims for a valuation of $1.69 billion after the IPO. The exact timeline for the IPO and the amount to be raised have not been specified yet. The investment by Aarin Capital and OAKS Asset Management is expected to yield substantial gains.
It is noteworthy that Foodlink F&B Holdings is not the only company planning an IPO in India. Travel Food Services has also announced its intentions for an IPO worth $233.5 million. The expected timeline and details for Travel Food Services' IPO have not been disclosed.
The article does not provide any information about the financial performance or market position of either Foodlink F&B Holdings (India) Ltd or Travel Food Services. Furthermore, no details about the investors in either company or the exact amounts invested by Aarin Capital and OAKS Asset Management in Foodlink F&B Holdings have been revealed. Additionally, the article does not mention any other companies planning an IPO apart from Foodlink F&B Holdings (India) Ltd and Travel Food Services.
The proceeds from the IPO of Foodlink F&B Holdings (India) Ltd will be utilized for various purposes, including expanding operations, setting up centralized kitchens, debt repayment, and general corporate purposes.
Furthermore, the investment by venture capital firm Aarin Capital and private equity firm OAKS Asset Management in Foodlink F&B Holdings is expected to yield substantial gains. However, the exact amounts invested by these firms have not been disclosed.
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