As the homegrown cloud kitchen unicorn gets ready to go public, Singapore state investor Temasek Holdings is looking to acquire a significant stake in Rebel Foods through a combination of primary equity infusion and secondary share sale.
According to Mint, early investors Coatue Management, Lightbox, and Peak XV are selling shares and partially diluting their stakes ahead of the startup’s IPO, which is scheduled for the next 12 to 18 months.
Their shares, which represent a 20–25% stake in Rebel Foods, will be mopped up Temasek’s subsidiary Jongsong Investments for approximately $180-200 Mn (approx. INR 1500-1680 Cr). It should be noted that if the deal goes through, Temasek will become the largest shareholder in Rebel Foods. The founders currently own a 12% stake.
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