Latest news with #Curefoods
New Indian Express
03-07-2025
- Business
- New Indian Express
Low-cost e-comm platform Meesho files for Rs 8,500 crore IPO
While Pine Labs, which is a leading merchant commerce platform focused on providing fintech solutions to businesses, is likely to have a fresh issue of Rs 2,600 crore, and an offer for sale of 14.78 crore shares, the low-cost direct-to-consumer (D2C) brand focused on sleep and home solutions firm Wakefit has structured its IPO with a fresh issue of Rs 468.2 crore and an OFS of 5.84 crore shares. On the other hand, cloud kitchen startup Curefoods, which just got converted into a public entity, filed for a Rs 800 crore. Its OFS details are awaited, while the logistics service provider Shadowfax Technologies has also confidentially filed the IPO papers for a Rs 2,500 crore issue along with an OFS, valuing the company around Rs 8,500 crore. Meesho, cofounded by Vidit Aatrey (chief executive) and Sanjeev Barnwal (chief technology officer) is looking to get listed around late September or early October, according a to source. Total money mopped up through the IPO will be around Rs 8,500 crore ($1 billion), of which Rs 4,250 crore each will be primary issues and secondary issues. In the run up to its IPO, Meesho too had converted into a public entity like Curefoods last month. The Bengaluru-based Meesho has chosen the confidential route as it looks to protect sensitive information from rivals Flipkart and Amazon among others. Earlier Shadowfax, Curefoods and the leading discount brokerage Groww and many others had done so and allows the issuer to reassess its IPO timelines if market conditions turn.
Entrepreneur
30-06-2025
- Business
- Entrepreneur
Curefoods India Files DRHP with SEBI for INR 8,000 Mn IPO
You're reading Entrepreneur India, an international franchise of Entrepreneur Media. 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.
Economic Times
30-06-2025
- Business
- Economic Times
Q-comm firms add fees to cart; Curefoods joins IPO queue
Happy Monday! Quick commerce players are introducing new charges to offset rising losses. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ Mid-market GCC jobs outlook ■ Fresh yolk for Eggoz■ IndiaAI's LLM focus Quick commerce apps stack up extra fees to curb losses India's quick commerce players — Blinkit, Instamart, and Zepto among them — are quietly layering on new charges, such as handling, small-cart, rain, and surge fees, to shore up their fragile unit economics, executives and analysts tracking the sector told us. Driving the news: These add-on fees, charged over and above standard delivery rates, typically range from Rs 6 to Rs 30 per order, depending on city and demand. Crucially, they allow platforms to increase their take rates without adjusting base delivery fees, which remain subsidised to keep users engaged. Apps have also raised the minimum cart value, nudging users towards bigger baskets. However, this fee stacking has triggered a wave of user complaints about hidden charges. The government, too, has taken note — it recently flagged these as 'dark patterns' and asked these platforms to conduct self-audits. Also Read: Quick commerce industry's hygiene headache explained Why it matters: The top platforms control more than 80% of the market and are battling swelling losses. Blinkit posted a Rs 178 crore loss in Q4 FY25, while Instamart's losses touched Rs 840 crore in the same period. With aggressive discounting and high delivery subsidies weighing on margins, these charges aim to plug widening gaps in the business model. Zoom out: India's quick commerce market is projected to touch $31 billion by FY28. For now, though, growth is coming at the cost of profitability, even as regulators and customers push back against the tactics being used to fund it. Also Read: Quick commerce firms face delivery partner crunch amid rising demand Curefoods files for public listing amid IPO market resurgence Ankit Nagori, founder, Curefoods Cloud kitchen operator Curefoods filed its draft red herring prospectus (DRHP) for an initial public offering (IPO), joining a wave of Indian tech firms tapping into renewed interest in the IPO market. Key details: The offer will include a fresh issue worth Rs 800 crore, alongside an offer for sale (OFS) of 48.5 million shares. Early backers Accel, Chiratae Ventures and Iron Pillar PCC would offload part of their stake in the OFS. JM Financial, IIFL Capital and Nuvama are advising on the IPO. Use of proceeds: Curefoods will use Rs 152 crore from the IPO to expand cloud kitchens, restaurants and kiosks, mainly for Krispy Kreme. Another Rs 127 crore will go towards debt repayment, with some funds allocated to boost stakes in subsidiaries. India-Ratings downgrades IPO-bound on debt repayment worries Aaditya Sharda and Souvik Sengupta, cofounders, India Ratings, part of the Fitch Group, has downgraded long-term debt rating to 'BBB+ with Negative Outlook' from 'A- with Negative Outlook', citing worries around debt refinancing, weak liquidity and negative cash flows from operations in FY25. On the flipside: In response, told investors and lenders in a note last month that the downgrade fails to reflect its improving financials, recent equity infusion, and upcoming liquidity events, including its planned IPO. Meesho gets shareholder nod to go public Vidit Aatrey, CEO, Meesho Ecommerce platform Meesho has secured shareholders' approval to go public, the last step before filing its DRHP with Sebi. What's on offer: The company recently redomiciled to India in preparation for the listing. The IPO will feature a fresh issue of Rs 4,250 crore, along with an offer for sale. Zoom out: Meesho could become the first digital-only one-stop shop to list in India. Its larger rival, Flipkart, owned by Walmart, is also exploring a public listing. Also Read: IPO watch: Which Indian startups are next to hit the stock market? Mid-market GCCs likely to add 40,000 jobs by 2026 end Mid-market global capability centres (GCCs) are poised to add 40,000 jobs in India by the end of 2026, pushing their total workforce past 260,000, according to data from ANSR Global, which helps set up these captive units. Tell me more: Over 120 new mid-sized GCCs are expected to come up by the end of next year. Most of them will support functions across software, banking, finance, accounting, insurance, and retail. Hiring will remain concentrated in key tech hubs, including Bengaluru, Hyderabad, Chennai, Pune, and Gurugram. The hottest skills on the radar include AI/ML engineering, data analytics, cloud engineering, cybersecurity, full-stack development, product management, and solution architecture. Bird's eye view: Mid-market GCCs are punching above their weight when it comes to deep tech. They account for around 1.5 times more talent in areas such as AI/ML, cybersecurity, cloud, and data science, according to a Nasscom-Zinnov report. While leaner by design, these centres are doubling down on niche and high-value skills rather than chasing scale. Other Top Stories By Our Reporters Eggoz eyes to bolster presence with fresh funds: Agritech startup Eggoz secured $20 million in new funding, with mid-market private equity firm Gaja Capital leading the round, to expand its presence in existing markets. IndiaAI Mission emphasises building LLMs: Out of the 506 proposals received by the IndiaAI Mission for developing foundational AI models, 43 are specifically dedicated to creating large language models (LLMs). Global Picks We Are Reading ■ Inside the British lab growing a biological computer (FT) ■ Why tech billionaires want bots to be your BFF (WSJ) ■ Facebook is starting to feed its AI with private, unpublished photos (The Verge) Updated On Jun 30, 2025, 07:50 AM IST
Time of India
30-06-2025
- Business
- Time of India
Q-comm firms add fees to cart; Curefoods joins IPO queue
Q-comm firms add fees to cart; Curefoods joins IPO queue Also in the letter: Quick commerce apps stack up extra fees to curb losses Driving the news: These add-on fees, charged over and above standard delivery rates, typically range from Rs 6 to Rs 30 per order, depending on city and demand. Crucially, they allow platforms to increase their take rates without adjusting base delivery fees, which remain subsidised to keep users engaged. Apps have also raised the minimum cart value, nudging users towards bigger baskets. However, this fee stacking has triggered a wave of user complaints about hidden charges. The government, too, has taken note — it recently flagged these as 'dark patterns' and asked these platforms to conduct self-audits. Also Read: Why it matters: Why it matters: The top platforms control more than 80% of the market and are battling swelling losses. Blinkit posted a Rs 178 crore loss in Q4 FY25, while Instamart's losses touched Rs 840 crore in the same period. With aggressive discounting and high delivery subsidies weighing on margins, these charges aim to plug widening gaps in the business model. Zoom out: India's quick commerce market is projected to touch $31 billion by FY28. For now, though, growth is coming at the cost of profitability, even as regulators and customers push back against the tactics being used to fund it. Also Read: Curefoods files for public listing amid IPO market resurgence Key details: The offer will include a fresh issue worth Rs 800 crore, alongside an offer for sale (OFS) of 48.5 million shares. Early backers Accel, Chiratae Ventures and Iron Pillar PCC would offload part of their stake in the OFS. JM Financial, IIFL Capital and Nuvama are advising on the IPO. Use of proceeds: Curefoods will use Rs 152 crore from the IPO to expand cloud kitchens, restaurants and kiosks, mainly for Krispy Kreme. Another Rs 127 crore will go towards debt repayment, with some funds allocated to boost stakes in subsidiaries. Ind-Ra downgrades IPO-bound on debt repayment worries On the flipside: Meesho gets shareholders' nod to go public What's on offer: Zoom out: Also Read: Mid-market GCCs likely to add 40,000 jobs by 2026 end Tell me more: Over 120 new mid-sized GCCs are expected to come up by the end of next year. Most of them will support functions across software, banking, finance, accounting, insurance, and retail. Hiring will remain concentrated in key tech hubs, including Bengaluru, Hyderabad, Chennai, Pune, and Gurugram. The hottest skills on the radar include AI/ML engineering, data analytics, cloud engineering, cybersecurity, full-stack development, product management, and solution architecture. Bird's eye view: Other Top Stories By Our Reporters Eggoz eyes to bolster presence with fresh funds: IndiaAI Mission emphasises building LLMs: Global Picks We Are Reading Happy Monday! Quick commerce players are introducing new charges to offset rising losses. This and more in today's ETtech Morning Dispatch.■ Mid-market GCC jobs outlook■ Fresh yolk for Eggoz■ IndiaAI's LLM focusIndia's quick commerce players — Blinkit, Instamart, and Zepto among them — are quietly layering on new charges , such as handling, small-cart, rain, and surge fees, to shore up their fragile unit economics, executives and analysts tracking the Nagori, founder, CurefoodsCloud kitchen operator Curefoods filed its draft red herring prospectus (DRHP) for an initial public offering (IPO), joining a wave of Indian tech firms tapping into renewed interest in the IPO Sharda and Souvik Sengupta, cofounders, Ratings, part of the Fitch Group, has downgraded long-term debt rating to 'BBB+ with Negative Outlook' from 'A- with Negative Outlook', citing worries around debt refinancing, weak liquidity and negative cash flows from operations in response, told investors and lenders in a note last month that the downgrade fails to reflect its improving financials, recent equity infusion, and upcoming liquidity events, including its planned Aatrey, CEO, MeeshoEcommerce platform Meesho has secured shareholders' approval to go public , the last step before filing its DRHP with company recently redomiciled to India in preparation for the listing. The IPO will feature a fresh issue of Rs 4,250 crore, along with an offer for could become the first digital-only one-stop shop to list in India. Its larger rival, Flipkart, owned by Walmart, is also exploring a public global capability centres (GCCs) are poised to add 40,000 jobs in India by the end of 2026, pushing their total workforce past 260,000, according to data from ANSR Global, which helps set up these captive GCCs are punching above their weight when it comes to deep tech. They account for around 1.5 times more talent in areas such as AI/ML, cybersecurity, cloud, and data science, according to a Nasscom-Zinnov report. While leaner by design, these centres are doubling down on niche and high-value skills rather than chasing startup Eggoz secured $20 million in new funding, with mid-market private equity firm Gaja Capital leading the round, to expand its presence in existing of the 506 proposals received by the IndiaAI Mission for developing foundational AI models, 43 are specifically dedicated to creating large language models (LLMs).■ Inside the British lab growing a biological computer ( FT ■ Why tech billionaires want bots to be your BFF ( WSJ ■ Facebook is starting to feed its AI with private, unpublished photos ( The Verge
Time of India
29-06-2025
- Business
- Time of India
Curefoods files IPO papers to raise Rs 800 crore
Synopsis Cloud kitchen operator Curefoods has filed its draft red herring prospectus to raise Rs 800 crore via fresh issue, alongside an offer for sale (OFS) of 48.5 million shares
