?Mr Hot Foods raises an undisclosed amount from IvyCamp

Growth capital

BY - Franchise India Team
Editor Dec 07, 2016/

123

/ 2 MIN READ.

?Mr Hot Foods raises an undisclosed amount from IvyCamp

Mr Hot Foods, an Indore-based food delivery aggregator, has managed to raise an undisclosed amount from the IvyCamp.

Mr Hot Foods is looking to expand the number of restaurants and food centres on its platform with this capital raise.

Along with increased sales and online reach, local vendors are given professional training from chefs and access to analytics and technology to handle current operations better.

Pawan Raj Kumar, who is going to join the company as an advisor, has invested in the firm through the IvyCamp platform.

Kumar said, "Mr Hot Foods addresses the needs of small kitchens that make good, simple food but lack the bandwidth to reach out to young customer students. I truly believe that with India's huge young and migratory population, Mr Hot foods has touched the right chord in the business of food service and delivery."

Anju Gupta, Co-founder and President, IvyCamp, said, "We have found that alumni are very excited about working with start-ups (mentoring and investing) as they see this as another way to give back to their own Alma Mater and other institutes."

IvyCamp uses its Global Alumni Network (of IITians and IIMites) to connect young entrepreneurs to experience mentors.

Growth

Coffee Day Enterprises Shares Hit 20% Upper Circuit for 2nd Consecutive Day

BY - Vijetha Iyer
Content Editor Mar 04, 2025 / 3 MIN READ

Coffee Day Enterprises Shares Hit 20% Upper Circuit for 2nd Consecutive Day

Despite the weakening local equities market, shares of Coffee Day Enterprises Ltd. (CDEL), the parent company of Coffee Day restaurants, rose 20% on the BSE and NSE on Tuesday for the second consecutive day. On the BSE and NSE, its prices have gone up to Rs 30.78 and Rs 30.63 each, which is also its upper circuit limit. The price increase follows the National Company Law Appellate Tribunal's decision to revoke the company's insolvency procedures.

The NCLAT had halted CDEL's insolvency proceedings on February 27. An earlier ruling of the National Company Law Tribunal's (NCLT) Bengaluru bench was overturned by the Chennai NCLAT bench. Since the appeal body NCLAT was unable to provide the order by the February 21 date set by the Supreme Court, insolvency proceedings against CDEL were reopened in February.

IDBI Trusteeship Services Ltd. (IDBITSL) filed a plea alleging a default of Rs 228.45 crore, which the NCLT accepted earlier in August of last year. An interim resolution expert was then appointed to oversee the operations of the indebted business. The suspended board quickly appealed the decision to the NCLAT, an appellate panel that halted CDEL's insolvency procedures on August 14, 2024.

The Supreme Court heard an appeal of this NCLAT ruling from IDBITSL, and on January 31, 2025, ordered the NCLAT Chennai court to decide the case by February 21, 2025. Additionally, the supreme court ordered that the appellate tribunal's judgment stay the corporate insolvency if the appeal filed by CDEL is not resolved by NCLAT.

Though, NCLAT completed the hearing and reserved its order over the appeal filed by the director of its suspended board, it could not pass the order within the specified time fixed by the Supreme Court.

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