Curefoods India files DRHP with Sebi, aims to raise ₹800 cr for expansion

Curefoods India IPO comprises a fresh issue of face value of ₹1 per share aggregating up to ₹800 crore and an OFS of up to 48.5 million equity shares

Upcoming IPO: Bengaluru-based Curefoods India, a multi-brand food services company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its maiden public issue. 

 

The initial public offering (IPO) comprises a combination of a fresh issue of face value of ₹1 per share aggregating up to ₹800 crore and an offer for sale (OFS) of up to 48.5 million equity shares. The investors selling shareholders include Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), Chiratae Ventures, Global Ecommerce Fund, Alteria Capital, Curefit Healthcare, and others.  

 

Kfin Technologies is the registrar for the issue. JM Financial, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers. 

 

 

According to the DRHP, the company plans to utilise ₹152.54 crore from the net fresh issue proceeds primarily for expansion and equipment, including ₹126.32 crore for establishing new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchen. In addition, ₹19.91 crore will be used for expanding select existing cloud kitchens by adding new brands and ₹6.31 crore towards the purchase of machinery and equipment, and strategic initiatives. 

About Curefoods India

Curefoods India is an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs. According to the DRHP, the company is among the top two leading cloud kitchen companies in terms of service locations covered, as of March 31, 2025. It leverages a multi-channel approach that integrates both delivery and non-delivery channels.

 

Curefoods India's brand portfolio includes EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and Krispy Kreme. As of March 31, 2025, the company 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. 

 

Curefoods India's revenue from operations came in at ₹754.8 crore in FY25, up 27.46 per cent from ₹585.11 crore in the previous fiscal.  Its net losses narrowed to ₹169.9 crore in FY25 from ₹172.6 crore in the previous year.