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Informative

Temasek Eyes 25% Stake In Rebel Foods Ahead Of IPO

Update / Judgement Date

16 Oct 2024

Source

Inc42

Author

Team — WCP Legal Desk

Reading Time

1 min read

Investment BankingStart-Up & DPIIT

Temasek Holdings is set to acquire a 20-25% stake in Rebel Foods for $180-200 million ahead of the cloud kitchen unicorn’s IPO. Early investors, including Lightbox and Peak XV, are selling their shares. The deal will make Temasek the largest shareholder in Rebel Foods, which plans to use the funds to expand its food court business, EatSure. Rebel Foods, founded in 2011, operates multiple quick service restaurant brands like Behrouz Biryani and Ovenstory Pizza. The company has narrowed its net loss by 42% in FY24 and plans to go public in the next 12-18 months.