Rebel Foods Approves Rs 170 Crore ESOP Grant for Co-Founders
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Khushi Jain
- October 22, 2026
Cloud kitchen operator Rebel Foods, which runs brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Sweet Truth and The Good Bowl, has approved a fresh employee stock option (ESOP) grant worth around Rs 170 crore for its five co-founders.
The company’s board has approved the grant of 25.36 lakh ESOPs at an exercise price of Rs 670 per option, taking the total value of the fresh grant to approximately Rs 170 crore.
ESOP Allocation Among Co-Founders
According to the company’s latest filing, co-founder and CEO Ankush Grover received the largest allocation of 17.09 lakh ESOPs, valued at Rs 114.51 crore.
Jaydeep Barman received 4.27 lakh options worth Rs 28.63 crore. The remaining co-founders, Piyush Kakkad, Soumyadeep Barman and Ankur Sharma, received 1.34 lakh ESOPs each, valued at around Rs 8.95 crore per person.
Leadership Change and Profitability Focus
Grover replaced Jayadeep Barman in July 2025 and has since been tasked with steering Rebel Foods towards profitability and preparing the company for a potential public listing.
A significant portion of Grover’s ESOPs appears to be linked to milestones.
The company’s financial performance has shown progress, with revenue growing 21% year-on-year while losses narrowed 16% in FY26.
Revenue Growth and Loss Reduction
According to its FY26 financial results, Rebel Foods reported a 20% increase in operating revenue to Rs 1,951.6 crore. Its losses declined 16.3% to Rs 281.8 crore.
The ESOP grant comes as the Mumbai-based cloud kitchen operator continues to expand its business while working to reduce losses. The source article notes that the company has yet to report its FY26 numbers, although it also cites FY26 financial results.
Funding and Business Developments
Rebel Foods has raised nearly $803 million in funding to date. Its prominent investors include Peak XV Partners, Coatue, Qatar Investment Authority (QIA) and Lightbox.
Earlier this year, the Peak XV-backed company shut down QuickiES, its 15-minute food delivery app, within a year of its launch due to high cash burn.
Rebel Foods operates a portfolio of cloud kitchen brands, including Faasos, Behrouz Biryani, Oven Story Pizza, Sweet Truth and The Good Bowl.
FAQs
1. How much is Rebel Foods’ latest ESOP grant worth?
Rebel Foods has approved a fresh ESOP grant worth approximately Rs 170 crore for its five co-founders.
2. How many ESOPs has Rebel Foods approved?
The board has approved 25.36 lakh ESOPs at an exercise price of Rs 670 per option.
3. Who received the largest ESOP allocation?
Co-founder and CEO Ankush Grover received 17.09 lakh ESOPs valued at Rs 114.51 crore.
4. How did Rebel Foods perform financially in FY26?
The cited financial results show operating revenue of Rs 1,951.6 crore, up 20%, while losses declined 16.3% to Rs 281.8 crore.
5. How much funding has Rebel Foods raised?
Rebel Foods has raised nearly $803 million to date, with investors including Peak XV Partners, Coatue, Qatar Investment Authority and Lightbox.
