Curefoods, one of India’s leading cloud kitchen operators, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth ₹800 crore. The move signals Curefoods’ intent to tap public markets for expansion capital amid rising investor interest in the country’s online food services sector.
What is Curefoods?
- Curefoods runs over 500 kitchens in 70 cities across India.
- It owns popular food brands like EatFit, Nomad Pizza, Sharief Bhai Biryani, CakeZone, and Frozen Bottle.
- Recently, Curefoods got the rights to run the famous Krispy Kreme doughnut and coffee brand across India.
Who Are the Key Investors?
The IPO will also include a sale of up to 4.85 crore shares by current investors, including well-known names like Binny Bansal (Flipkart co-founder), Accel, Iron Pillar, Chiratae Ventures, and Alteria Capital.
Curefoods’ CEO, Ankit Nagori, holds about 30% of the company.
Business Performance
- Curefoods reported a revenue of ₹746 crore in FY25, a 27% increase from the previous year.
- The company’s losses have slightly reduced, showing improvement in its financial health.
How Will Curefoods Use the IPO Money?
Curefoods plans to use the money raised from the IPO in several ways:
- ₹152 crore will go to open new cloud kitchens, restaurants, kiosks, and central kitchens, mostly for Krispy Kreme.
- ₹127 crore will be used to pay back some of the company’s debt.
- Some funds will be invested in Curefoods’ other businesses and subsidiaries, and for general business needs.
Part of the money will also help with future company growth and possible new acquisitions.
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