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Tag: Curefoods IPO

  • Curefoods Serves Up IPO Plans, Targets INR 800 Cr Fresh Issue in Market Debut

    Curefoods India, a cloud kitchen startup based in Bengaluru and supported by Accel India, Iron Pillar, Alteria Capital Fund, and Binny Bansal, has submitted draft documents to SEBI in order to raise money through an IPO.

    The IPO will include an offer-for-sale of 4.85 crore equity shares by current shareholders in addition to the new issuance of shares valued at INR 800 crore.

    In the offer-for-sale, investors Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), and Chiratae Ventures India Fund IV will be selling their shares, along with those of Global eCommerce Consolidation Fund, Alteria Capital Fund, and Curefit Healthcare.

     Curefoods, controlled by Ankit Nagori, may think about raising up to INR 160 crore in a pre-IPO transaction. The fresh issue size will be lowered by the specified amount if it is successful in closing the pre-IPO placement.

    With 27.80% and 17.32% interests, respectively, promoter Ankit Nagori and Flipkart co-founder Binny Bansal’s 3State Ventures Pte will be the company’s largest shareholders when fully diluted. This came after Accel India V (Mauritius) (7.17%), Chiratae (8.23%), and Iron Pillar (13.53%).

    How Company Plans to Utilise Proceeds?

    Using INR 152.5 crore of the proceeds from the new offering, the multi-brand food services company intends to expand some of its current cloud kitchens, buy machinery and equipment, and open additional restaurants, kiosks, central kitchens, and cloud kitchens under the Krispy Kreme brand.

    Additionally, it will use the proceeds of the offering to pay down a debt of INR 126.9 crore. The total amount of its debt as of April 2025 was INR 239.1 crore.

    The remaining funds will be used for general corporate reasons, sales and marketing campaigns, leasing payments for existing properties, investing in subsidiaries, acquiring more shares in subsidiaries, and inorganic growth through unnamed acquisitions. The IPO’s legal consultants are Trilegal and Shardul Amarchand Mangaldas.

    Financial Dynamics of Curefoods

    In more than 70 Indian cities and towns, Curefoods India runs its food services business through 5 central kitchens, 281 cloud kitchens, 99 kiosks, 122 restaurants, and 13 warehouses.

    From a loss of INR 171.9 crore in the previous fiscal year, it reported a considerably smaller loss of INR 170 crore for the year that ended in March 2025.

    From INR 585.1 crore in the previous fiscal year to INR 745.8 crore in the fiscal year 2025, revenue grew by 27.5%. For the Curefoods India IPO, JM Financial, IIFL Capital Services, and Nuvama Wealth Management have been named as the book running lead managers.

    Sharief Bhai Biryani, one of Curefoods’ ten brands, made up 19.85% of its FY25 sales, somewhat surpassing EatFit’s 19.47% share. CakeZone and the pizza joint Olio came next.

  • Curefoods Starts Discussions With Bankers About a $300–400 Million IPO

    According to a media source, Curefoods, a food and beverage startup founded by Ankit Nagori, a former senior Flipkart executive, has started talking about hiring legal firms and investment banks for its initial public offering (IPO). According to various media outlets, the firm recently met with a number of bankers and solicitors for an IPO mandate, and the counsel will probably be decided upon in the coming weeks. The potential offer, which is anticipated to be made public in the later half of the current fiscal year, which starts on April 1, may raise $300–400 million for the Accel-backed business. They stated that the amount of secondary share sales by current investors will ultimately determine the final size of the initial public offering (IPO). Among others, Accel, Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Three State Ventures, and Nordstar have invested in the company.

    Curefoods  Expanding its Network

    Along with adding Frozen Bottle and other brands to its portfolio, which already includes EatFit, Cakezone, Nomad Pizza, and Sharief Bhai Biryani, Curefoods has been growing its business. It serves more than ten different cuisines in 40 Indian cities through more than 500 cloud kitchens and physical locations. The firm stated on December 31 that it has reached a deal with the Landmark Group to buy the popular doughnut brand Krispy Kreme’s businesses in west and south India.

    In an interview with a media house on December 31, Nagori stated that although the agreement permits Curefoods to manage and operate Krispy Kreme in the south and west, Curefoods is also in talks to extend operations to the north and east in the upcoming months. Over the next five years, Krispy Kreme, a division of Curefoods, intends to open more than 350 more points of access in addition to its current 50 touchpoints.

    Financial Outlook of Curefoods

    According to the company’s filings with the Registrar of Companies, its consolidated revenue increased by 53% to INR 585 crore in FY24 from the previous fiscal year. According to media estimates, Curefoods anticipates ending FY25 with an annual revenue run-rate of about INR 1,000 crore. According to data, the startup’s consolidated loss decreased from INR 342.7 crore to INR 172.6 crore in FY24.

    Statup Sector’s Race For IPO

    Due to a robust IPO market and a resurgence of investor interest in tech equities, a number of technology businesses intend to go public in 2025. Lenskart, an eyeglasses startup, has contacted investment banks to present for the mandate for its possible initial public offering (IPO), which may raise $1 billion. Groww, a stock broker, had selected five investment banks for a $1 billion initial public offering.

    In the near future, startups like SoftBank-backed OfBusiness, contract maker Zetwek, and financial unicorn Pine Labs hope to raise $1 billion through initial public offerings (IPOs). Up to 25 firms hope to debut on the public market in 2025. This comprises companies that aim for $500 million initial public offerings (IPOs), such as edtech company PhysicsWallah, AI unicorn Fractal, construction materials portal Infra.market, and leader in rapid commerce Zepto.

    Pine Labs to Submit IPO Draft Documents by Mid-February
    Pine Labs is gearing up for its IPO, planning to submit draft documents by mid-February, signaling its next big step toward going public.
    StartupTalkyNitin Konde