The proposed initial public offering (IPO) includes a combination of fresh issuance of shares worth Rs 800 crore and offer-for-sale (OFS) of 48.5 million shares by existing shareholders
Curefoods, a cloud kitchen operator, has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering.
The proposed IPO includes a combination of fresh issuance of shares worth Rs 800 crore and offer-for-sale (OFS) of 48.5 million shares by existing shareholders, the company mentioned. Through OFS, investors like Accel, Chiratae Ventures, Nordstar Partners, Alteria Capital, Iron Pillar and Curefit Healthcare will partially offload their stakes.
The offer comprises equity shares of face value of Rs 1 each, the company said in its filing. As of 31 March 2025, the company operates a portfolio of 10 key brands spread across 502 service locations across over 70 cities and towns in India. It has established an offline presence operating through central kitchens, cloud kitchens, kiosks and restaurants.
As of March 31 2025, operate five central kitchens, 281 cloud kitchens, and 122 restaurants. The company stated that it also operates 99 kiosks in 11 locations. The portfolio includes key brands such as EatFit, CakeZone, Nomad Pizza.
The company noted that in furtherance to its growth strategy, it will utilise up to Rs 1,52.53 crore out of the net proceeds towards setting up of new cloud kitchens, restaurants, kiosks and Krispy Kreme Theatres, expansion of certain existing cloud kitchens by way of brand addition and purchase of machinery and equipment.
