Vegorama Punjabi Angithi Ltd IPO

Vegorama Punjabi Angithi is a food services company that offers vegetarian North Indian and multi-cuisine food items through cloud kitchens, takeaway services, catering, and fine dining restaurants. The company provides services including home delivery, corporate thali services, compact catering solutions for office parties and home gatherings, and dine-in restaurant services. It initially operated as a cloud kitchen and takeaway business and later expanded into institutional catering and fine dining operations. The company currently operates 23 cloud kitchens, including one outlet in Uttam Nagar, Delhi, where operations are yet to commence, along with 2 fine-dining restaurants located in the Delhi NCR. Use of proceeds: This is a combination of a fresh issue of shares and an offer for sale (OFS). The net proceeds from the OFS will go to the selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Capex for the construction of the banquet and fine dining restaurant - Up to Rs 11.9 crore Capital expenditure for the construction of a centralised kitchen - Up to Rs 4.20 crore Capital expenditure for rollout of new cloud kitchen - Up to Rs 4.67 crore Capex for upgradation of the existing cloud kitchen facilities - Up to Rs 1.64 crore General corporate purposes (These numbers will be finalised upon determination of the Issue Price and updated in the Draft Red Herring Prospectus);