Rebel Foods Expands With New ESOP Grant
Cloud kitchen operator Rebel Foods has recently greenlit a new employee stock option (ESOP) grant, which is valued at approximately Rs 170 crore. The company, which operates several popular cloud kitchen brands such as Faasos, Behrouz Biryani, and Oven Story Pizza, has approved 25.36 lakh ESOPs at an exercise price of Rs 670 per option.
According to the company’s latest filing, co-founder and CEO Ankush Grover received the most substantial allocation of 17.09 lakh ESOPs, which is valued at Rs 114.51 crore. Following him, Jaydeep Barman was granted 4.27 lakh options, valued at Rs 28.63 crore. Each of the other co-founders, Piyush Kakkad, Soumyadeep Barman, and Ankur Sharma, received 1.34 lakh ESOPs, with a valuation of around Rs 8.95 crore each.
It is notable that Grover replaced Jayadeep Barman in July 2025. Since then, he has been focused on directing Rebel Foods towards profitability and preparing the company for a potential public listing. A considerable number of Grover’s ESOPs are reportedly tied to specific milestones.
The firm has demonstrated progress in its financial performance, with a year-on-year revenue increase of 21%, while losses have narrowed by 16% in FY26. This grant emerges as Rebel Foods continues to develop its business while reducing losses. The financial results for FY26 indicated a 20% rise in operating revenue, reaching Rs 1,951.6 crore, while losses decreased by 16.3% to Rs 281.8 crore. The Mumbai-based company has not yet disclosed its final figures for FY26.
Rebel Foods has successfully secured nearly $803 million in funding so far. Among its notable investors are Peak XV Partners, Coatue, Qatar Investment Authority (QIA), and Lightbox. Earlier in the year, the Peak XV-backed company made the decision to close QuickiES, its 15-minute food delivery service, just one year after its launch due to substantial cash burn concerns. In addition to its flagship brands, Rebel Foods addresses customers with options like Sweet Truth and The Good Bowl.