Contract catering company Voila F9 Gourmet is exploring the possibility of coming out with an initial public offering (IPO) this year, and also expand to Bengaluru and Gurugram markets, a top company official said.
According to a PTI report: The company’s CEO and Partner, Vijay Amritraj, said they are open to the idea of diluting a company stake to strategic partner if it adds value.
“Currently we do not need capital. Our internal accruals are very, very strong. We don’t want financial investor. We are open to the idea of offloading a stake to strategic investor who can add value like bringing global brand and global expertise,” Amritraj told PTI.
“There is a shareholder interest in looking at a possible IPO. I think it’s also a possibility that we are exploring,” he was further quoted by PTI as saying, adding that the initiative to go public is likely to fructify in 2018.
The company recently launched a facility — touted as India’s largest commercial kitchen — spread over 60,000 square feet on a two-acre plot located in the financial district of Hyderabad.
It has a peak capacity to produce 50,000 meals every day.
The homegrown company, which has been in institutional catering space since 2007, directly competes with global F&B giants like Compass and Sodexo for market share.
With the employee strength of 850-plus, the company produces over 25,000 meals everyday for corporate employees in leading multinational companies like Google, Facebook, Deloitte, Qualcomm and Uber here.
Voila F9 Gourmet is the amalgamated entity of Fusion Hospitality Pvt Ltd and Voila Cuisine LLP.
Amritraj said the company, which largely serves campus-based technology companies, plans to start operations in Bengaluru this year, and in Gurugram in 2019.
The IT companies are located in multiple pockets in Bengaluru, unlike Hyderabad where they are largely concentrated in one area, and, so, Voila would initially start with two small satellite kitchens and then look for ramping up operations.
Some of its clients in Hyderabad also have offices in Bengaluru and they are keen that the company offered such services there as well, Amritraj said.
While contract catering would continue to be the bread and butter business for the company, it is also diversifying into banqueting space where it sees good growth potential.