Vegorama Punjabi Angithi Ltd IPO

About Vegorama Punjabi Angithi Ltd

Our Company was originally incorporated as a Private Limited Company under the name of Vegorama Punjabi Angithi Private Limited on March 30, 2022 under the provisions of the Companies Act, 2013 with the Registrar of Companies, NCT of Delhi. Subsequently our Company was converted into Public Limited pursuant to resolution passed by our shareholders at Extra ordinary general meeting held on March 05, 2025 and a fresh Certificate of Incorporation pursuant to conversion into public limited dated April 09, 2025 issued by the Registrar of Companies, Central Processing Centre.

The food service industry in India is one of the country's most dynamic and rapidly evolving sectors, driven by a young population, rising disposable incomes, and changing consumer lifestyles. Eating out is no longer limited to special occasions it's becoming a regular part of urban life, especially among millennials and Gen Z. The industry spans a broad spectrum, including quick-service restaurants (QSRs), casual and fine dining establishments, cafes, food courts, and a booming food delivery ecosystem powered by digital platforms. Urbanization and the proliferation of malls, tech parks, and high-street retail have fuelled the growth of both dine-in and delivery formats. Tier 1 and Tier 2 cities are witnessing an increasing demand for diverse cuisines, health-conscious meals, and innovative dining experiences. At the same time, the rise of cloud kitchens and food aggregators like Swiggy and Zomato has expanded the reach of food services beyond physical boundaries, making restaurant-quality food more accessible than ever. This growing demand, coupled with increasing investor interest and brand expansion strategies, indicates that the food service sector is poised for sustained, long-term growth in India. The Indian food service industry is witnessing robust growth, fuelled by rapid urbanization, rising disposable incomes, evolving consumer lifestyles, and a growing preference for dining out and convenience-based food consumption. According to the National Restaurant Association of India (NRAI) and Indian Food Services Report (IFSR) 2024, the industry is valued at INR 5.6 trillion (INR 5,69,487 Crore) in FY 2024 and is projected to expand to INR 7.7 trillion (INR 7,76,511 Crore) by FY 2028, registering a compound annual growth rate (CAGR) of 8.1%.

Initially, we operated as a cloud kitchen and takeaway service provider, focusing on delivering high-quality vegetarian North Indian and other cuisines directly to customers' homes. By 2020, we established ourselves as one of the prominent players in the cloud kitchen segment, successfully fulfilling thousands of orders across multiple outlets. In 2021, we expanded our operations by including corporate thali services targeting bulk orders from the corporates. This marked our entry into institutional catering, diversifying our revenue streams beyond the traditional cloud kitchen and takeaway model. Further in 2022, after shifting our business model from a HUF Firm to a Private Limited Company, we also introduced compact catering solutions for smaller events such as office parties, team lunches, and home gatherings, offering flexibility and affordability while further expanding our reach in the catering market. Finally, in 2024, we opened our first fine dining restaurant, offering a premium dining experience with varied dishes, elegant presentation, and impressive ambience.

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