Curefoods Set to Raise Rs 800 Cr in IPO to Fuel Expansion
Curefoods, India's second-largest cloud kitchen operator, is set to raise Rs 800 crore through an Initial Public Offering (IPO). The company operates popular brands like EatFit, Sharief Bhai Biryani, and CakeZone across 70 cities. This move follows a strong financial year with a 27% revenue increase and narrowing losses.
Curefoods plans to use the IPO proceeds strategically. Rs 152 crore will go towards expansion, including new kitchens and restaurants to support its Krispy Kreme partnership. Another Rs 127 crore will be used to repay debt, with the remainder for increasing equity stakes in subsidiaries and general corporate purposes. The IPO comprises a fresh issue of Rs 800 crore and an offer for sale of 4.85 crore equity shares. Investors like Iron Pillar and Accel India will partially exit through the OFS. The company aims to list on the National Stock Exchange and the Bombay Stock Exchange, with JM Financial, IIFL Capital, and Nuvama Wealth Management as book-running lead managers. In fiscal 2025, Sharief Bhai Biryani contributed 19.85% to revenue, followed by EatFit at 19.47%, and Olio and CakeZone.
Curefoods' IPO is expected to strengthen its financial position and support its expansion plans. The company's diverse brand portfolio and strong revenue growth indicate a promising future in India's food delivery sector.
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