Curefoods India Files DRHP with SEBI for INR 8,000 Mn IPO
Curefoods India Limited, a fast-growing digital-first multi-brand food services company, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a significant step toward launching its Initial Public Offering (IPO).
The proposed IPO consists of a fresh issue of equity shares aggregating up to INR 8,000 million, along with an offer for sale (OFS) of up to 48,537,599 equity shares by existing shareholders. The selling shareholders include Iron Pillar PCC, Crimson Winter Limited, Accel India V (Mauritius) Limited, Chiratae Ventures, Global Ecommerce Consolidation Fund, Curefit Healthcare Private Limited, and others.
Curefoods plans to use the net proceeds of INR 152.54 crore from the fresh issue primarily for business expansion. The fund allocation includes INR 126.32 crore for launching new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; INR 19.91 crore for expanding select existing cloud kitchens with new brands; and INR 6.31 crore for machinery and strategic initiatives.
Founded with a vision to reshape the food services landscape in India, Curefoods has rapidly scaled its operations. As of March 31, 2025, the company operated across 502 service locations in over 70 cities, comprising 281 cloud kitchens, 122 restaurants, 99 kiosks, and five central kitchens. Its supply chain backbone includes 13 strategically located warehouses that ensure efficient logistics and timely deliveries.
Its prominent brands include EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and the iconic Krispy Kreme. These brands serve a variety of customer needs—from healthy meals to indulgent desserts—across different price points and meal occasions.
In FY25, Curefoods operated 10 key brands, each generating over INR 240 million in revenue. The contribution of these brands to the company's revenue increased from 95.32% in FY23 to 98.35% in FY25. Operationally, the company handled 18.23 million orders in FY25, up from 11.38 million in FY23.
Curefoods also made its international debut in 2024, launching its flagship brand Sharief Bhai in the United Arab Emirates, signaling its ambitions beyond the domestic market.
The IPO will be managed by JM Financial Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited as the Book Running Lead Managers.
With a strong digital foundation, robust delivery network, and rapidly expanding footprint, Curefoods' upcoming IPO is expected to draw significant interest from investors eyeing India's dynamic and tech-enabled food services market.
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