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Lite Bite Foods To Take The IPO Route To Raise Funds

2 years ago

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Ever since demonetisation, the highway liquor ban, and GST the world of F&B has been a bit up in the air. However, as stabilization returns, Lite Bite Foods is looking to put its name on the stock market within the next 12 months. Lite Bite Foods runs over 180 restaurant stores including Punjab Grill and Street Foods.

Going Public

“We can probably go public in the next year. We’ve reached those numbers. There are two ways to fund the business — private equity or a public listing. I’m more interested in going public,” Lite Bite Foods chairman Amit Burman told ET.

“The eating-out sentiment is coming back. Impact of demonetisation, goods & services tax (GST) and the highway ban have settled down. There are only so many ways of entertainment. People will not stop eating out for a 5% increase in menu prices,” Burman, said.

Burman, who is also Dabur group’s vice chairman, added that in markets like Singapore or Hong Kong, people go out to eat about 28 times in a month. “In India, the number is three or four. So if you look at what we can do to make that three or four to 10, it’s a big jump,” he said.

Lite Bite’s revenue grew 30-32% over last year, and Burman said the near Rs 300-crore business has identified Punjab Grill, Street Foods, and Artful Baker, as growth engines.

 

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Compulsive junk food eater, football watcher, and book reader. Hate the unicorn trend, love laughing at my own jokes; also, sometimes I write about food.