Exclusive: Sanjeev Kapoor’s Wonderchef Eyes IPO At INR 1,800 Cr Valuation

Renowned chef Sanjeev Kapoor’s Wonderchef is looking to go public this year, becoming the latest Indian startup to join the IPO race.

The Mumbai-based startup is eyeing a valuation of INR 1,800 Cr (about $200 Mn) for the IPO, sources told Inc42. This would be a significant jump from its last-known valuation of around $100 Mn.

The D2C kitchenware and home appliance maker’s IPO will primarily comprise an offer for sale to provide an exit opportunity to its investors. The discussions are at initial stages currently and there could be some changes to this, the sources added. Inc42 couldn’t ascertain the IPO size. 

Wonderchef is planning to file its draft red herring prospectus (DRHP) with SEBI by mid-June and is looking to launch the public issue by the end of November or in December this year. 

Questions sent to WonderChef about the IPO plans didn’t elicit any response till the time of publishing this story.

The sources said that the startup closed FY25 with a revenue of INR 800 Cr, more than double compared to its FY24 revenue of INR 378 Cr. 

Wonderchef turned profitable in FY24, posting a net profit of INR 1.5 Cr as against a loss of INR 51.83 Cr in FY23. 

Founded by Kapoor and Ravi Saxena in 2009, Wonderchef sells kitchen essentials like coffee machine, mixer grinders, cast iron pans, among others. It sells its products via its own website, marketplaces such as Amazon, and its exclusive business outlets (EBOs).

It has raised over $30 Mn funding to date from the likes of Sixth Sense Ventures, Amicus Capital, Godrej Family Office, Malpani Group, among others.

It competes against the likes of Lifelong, Atomberg, Beyond Appliances, among others. One of Wonderchef’s competitors, Nuuk raised a funding of INR 40 Cr recently.

The IPO Rush In Startup Ecosystem

The development comes at a time when more than 20 startups are eyeing their public market debut. The year 2024 saw 13 new-age tech companies get listed on the bourses.

Despite the correction in the Indian equities markets in recent months and the ongoing trade war dampening investor sentiment, new-age tech companies are lining up in droves to launch their IPOs.

Just last week, it was reported that consumer internet startup Urban Company received the approval of its board to raise INR 528 Cr via fresh issue of shares through its IPO. Aman Gupta-led boAt also filed its DRHP via confidential route recently. 

Besides, the capital markets regulator has given its nod to BlueStone, Aye Finance, and IndiQube to proceed with their IPOs.