Curefoods India IPO: Bengaluru based cloud kitchen startup Curefoods India has filed its DHRP near SEBI. This IPO will issue new shares of ₹ 800 crore, and offer will be offered by the current shareholders to sell 4.85 crore equity shares. Let us know that Curefoods India have support from Flipkart co-founder Binny Bansal, Accel India, Iron Pillar and Alteria Capital Fund.
Ankit Nagauri -owned curefoods can consider raising money up to ₹ 160 crore through anchor book before IPO. If she is successful in completing the pre-IPO placement, the size of the new issue will be around ₹ 640. After the IPO, the 3STATE VETUTES PTE owned by promoters Ankit Nagauri and Binny Bansal will be the largest shareholders in the company, whose share will be 27.80 percent and 17.32 percent respectively. This will be followed by the Iron Pillar (13.53 percent), Chirate (8.23 percent) and Excel India V (Mauritius) (7.17 percent stake). Shardul Amarchand Mangaldas and Trilegal are legal advisors on IPOs. At the same time, JM Financial, IIFL Capital Services and Nuvama Wealth Management have been appointed as Book Running Lead Managers for Curefoods India IPO.
How will the use of money received from IPO
Using an amount of ₹ 152.5 crore obtained from the Multi-Brand Food Services Company Fresh Issue, installing new cloud kitchens, restaurants, kiosks and central kitchens under the Crisi Cream brand; Extension of some existing cloud kitchens; And planning to buy machinery and equipment. Apart from this, the company will pay a loan of ₹ 126.9 crore through the amount received from the issue. Explain that by April 2025, the company had a loan of ₹ 239.1 crore.
The remaining amount will be used for development through general corporate purposes with lease payments for existing assets, investment in subsidiaries, additional shareholding in subsidiaries, sales and business measures, and many acquisitions with general corporate purposes.
Company business and financial status
Curefoods India trades food services through five central kitchens, 281 cloud kitchens, 99 kiosks, 122 restaurants and 13 warehouses in more than 70 cities and towns in India. It has recorded a loss of ₹ 170 crore in the financial year ended March 2025, which is slightly less than a loss of ₹ 171.9 crore in the last financial year. The revenue was ₹ 745.8 crore during the financial year 2025, which is 27.5 percent more than ₹ 585.1 crore in the previous financial year.