Rebel Foods grants co-founders ₹170 Cr in ESOPs
By Abha Lohia ·
Rebel Foods: revenue, valuation and funding and every story →
- Rebel Foods runs cloud kitchen brands such as Faasos, Behrouz Biryani and Oven Story Pizza from its Mumbai base
- Its board cleared 25.36 lakh stock options for the five co-founders at ₹670 each, worth about ₹170 crore, with CEO Ankush Grover getting the largest share
- The grant follows a year of 20% higher revenue and a 16% smaller loss, as the firm eyes profitability and a listing
What happened
- Board approved 25.36 lakh ESOPs for five co-founders.
- Exercise price is ₹670 per option.
- Total grant is worth about ₹170 crore.
- Ankush Grover gets 17.09 lakh options.
- Part of his grant looks tied to milestones.
Why it matters
- Ties founder rewards to profit and listing goals.
- Revenue rose 20% to ₹1,951.6 crore in FY26.
- Loss narrowed 16.3% to ₹281.8 crore.
The business
- Rebel Foods operates cloud kitchens from Mumbai.
- Brands include Faasos, Behrouz Biryani and Oven Story Pizza.
- Ankush Grover took over as CEO in July 2025.
The founders
AG
Ankush Grover
Co-founder and CEOJB
Jaydeep Barman
Co-founderSB
Soumyadeep Barman
Co-founderAS
Ankur Sharma
Co-founderIn numbers
₹1,951.6 CrOperating revenue · FY26
₹281.8 CrLoss · FY26
What happens next
- Move towards profitability
- Prepare for a possible listing
Terms in this story
- Co-founder equity: Split equity by what each founder will contribute from now on, not by who had the idea, and attach vesting so that anyone who leaves early does not keep a large share for doing little.
- Profitability: A startup reaches profitability when its revenue grows faster than its costs until income covers every expense. The usual path runs through positive unit economics, then positive contribution margin, then break-even EBITDA, and finally profit after tax.
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