Rebel Foods Grants Fresh ESOPs Worth ₹170 Cr to Co-Founders
Mumbai — Peak XV-backed cloud kitchen giant Rebel Foods has approved a fresh Employee Stock Option Plan (ESOP) grant worth approximately ₹170 crore ($20.4 million) designated for its co-founders and key executive leadership. According to regulatory filings, the company’s board passed a resolution approving the allocation of 25.36 lakh stock options at an exercise price of ₹670 per option. Co-founder and Chief Executive Officer Ankush Grover received the largest share of the pool, securing 17.09 lakh ESOPs valued at ₹114.51 crore, with a significant portion tied to performance milestones. Meanwhile, co-founder Jaydeep Barman was granted 4.27 lakh options worth ₹28.63 crore, while fellow executive leaders Piyush Kakkad, Soumyadeep Barman, and Ankur Sharma each received 1.34 lakh options valued at roughly ₹8.95 crore.
The substantial equity allocation comes as the unicorn continues to optimize operations and march toward sustained profitability. The company operates a portfolio of multi-brand internet restaurant chains, including Faasos, Behrouz Biryani, Oven Story Pizza, Sweet Truth, and The Good Bowl. Financially, Rebel Foods has shown steady operational performance, recording a 20% year-on-year increase in operating revenue to ₹1,951.6 crore, while narrowing its net losses by 16.3% to ₹281.8 crore. Backed by marquee investors such as Peak XV Partners, Qatar Investment Authority (QIA), Coatue, and Lightbox—having raised over $800 million to date—the fresh ESOP allocation reinforces Rebel Foods' strategy to retain and incentivize its core leadership while expanding its cloud kitchen footprint across domestic and international markets.