Upcoming IPO: Curefoods India Files DRHP with SEBI for ₹800 Crore IPO

Bengaluru-headquartered Curefoods India, a tech-enabled multi-brand food services company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).

Curefoods IPO Details

Curefoods IPO consists of a fresh issue of equity shares worth up to ₹800 crore (face value of ₹1 per share), alongside an Offer for Sale (OFS) of up to 48.5 million equity shares by existing investors.

The selling stakeholders include Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), Chiratae Ventures, Global Ecommerce Fund, Alteria Capital, Curefit Healthcare, and others.

Kfin Technologies has been appointed as the registrar to the issue. The IPO is being managed by JM Financial, IIFL Capital Services, and Nuvama Wealth Management, who are acting as the book-running lead managers.

Utilisation of IPO Proceeds

As per the DRHP, Curefoods plans to allocate ₹152.54 crore from the fresh issue proceeds towards expansion and capital expenditure. Key deployment includes:

• ₹126.32 crore for launching new Krispy Kreme cloud kitchens, restaurants, kiosks, and a central kitchen
• ₹19.91 crore for enhancing existing cloud kitchens by adding new brands
• ₹6.31 crore towards procurement of machinery, equipment, and supporting strategic initiatives.

Also Read: Upcoming IPOs in July 2025: Crizac, Anthem Biosciences, Travel Food Services & More

About Curefoods India

Curefoods is a digital-first, multi-brand food services platform catering to diverse tastes and dietary preferences. According to the DRHP, as of March 31, 2025, the company ranks among the top two cloud kitchen operators in India by number of service locations.

The company adopts a multi-channel approach, blending delivery-based models with offline formats like dine-in, kiosks, and takeaway.

Curefoods' brand portfolio features several well-known names, including EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and the iconic Krispy Kreme.

As of March 2025, Curefoods had a footprint spanning 502 service points across over 70 cities and towns in India. Its infrastructure includes:

• 281 cloud kitchens
• 122 restaurants
• 99 kiosks
• 5 central kitchens
• 13 warehouses

For FY25, Curefoods reported operating revenue of ₹754.8 crore, marking a 27.46% increase from ₹585.11 crore in FY24. The company’s net loss narrowed to ₹169.9 crore, compared to ₹172.6 crore in the previous fiscal year.

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