Curefoods India, an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise ₹800 crore via Initial Public Offering (IPO).
The offer comprises a fresh issue of face value of ₹ 1 aggregating up to ₹ 800 crore (the fresh issue) and an offer for sale of up to 48,537,599 equity shares of a face value of ₹ 1 each.
As part of the OFS, Iron Pillar PCC, Crimson Winter, Accel India, Chiratae Ventures, Global Ecommerce Consolidation Fund, Alteria Capital, Curefit Healthcare, Shripad Shrikrishna Nadkarni, Horizon Techno and Zephyr Peacock India will be offloading shares.
The company plans to utilise the net proceeds from the IPO amounting to ₹152.54 crore primarily for expansion and equipment. This includes ₹126.32 crore for establishing new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; ₹ 19.91 crore for expanding select existing cloud kitchens by adding new brands; and ₹ 6.31 crore towards the purchase of machinery and equipment, strategic initiatives.
Founded in 2020 by Ankit Nagori, Curefoods houses a variety of brands such as Kitchen of EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and Krispy Kreme.
As of March 31, 2025, Curefoods had a presence across 502 service locations in more than 70 cities and towns in India. Its offline network comprises five central kitchens, 281 cloud kitchens, 99 kiosks, 122 restaurants, and 13 warehouses, strategically located in high-footfall areas to maximize accessibility.
As of March 31, 2025, Curefoods operated a portfolio of 10 key brands defined as brands that generated revenues of more than ₹24 crore in Fiscal 2025.
Curefoods’ revenue from operations increased from ₹382 crore in Fiscal 2023 to ₹745.79 crore in Fiscal 2025, reflecting a compound annual growth rate (CAGR) of 39.72%.
JM Financial, IIFL Capital Services (formerly known as IIFL Securities) and Nuvama Wealth Management are the Book Running Lead Managers to the issue.
