Rebel Foods, which owns famous brands like Faasos, Behrouz Biryani, Oven Story Pizza, and Mandarin Oak, is getting ready to sell shares to the public for the first time. They might submit their plans to do this later this year, and they want to start trading on the Indian share market in 2025.
If they do this, they will be the first company in India that cooks food in cloud kitchens and goes public.
They started in 2011 in Mumbai. They use apps like Zomato and Swiggy to deliver food, besides their own apps.
They have kitchens called The Good Bowl, SLAY Coffee, Sweet Truth, and Wendy’s, and shops in India. They have more than 450 kitchens in 70 cities and in the UK and Saudi Arabia.
At first, they had restaurants where they made kebab rolls quickly and also took orders online. But in 2016, they closed their restaurants and only focused on cloud kitchens because it was cheaper and more people were ordering food online.
A cloud kitchen is a place where food is only prepared for delivery or takeout, and no one eats there.
In 2022-23, they lost Rs 670.2 crore, more than the Rs 520.34 crore they lost in 2021-22. But their sales went up by 19% to Rs 940 crore. They believe they will start making a profit soon.