Bengaluru: Curefoods India Limited, one of India’s fastest-growing digital-first food services companies, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) aggregating up to ₹1,500 crore.
The Curefoods India IPO consists of a fresh issue of equity shares worth ₹800 crore, along with an offer for sale of 48.53 million equity shares by prominent investors including Iron Pillar, Accel, Chiratae Ventures, Curefit, and others.
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The DRHP has been filed as the company looks to accelerate its national and international expansion plans.
According to the RedSeer Report, Curefoods ranks as the second-largest digital-first food services brand in India (excluding marketplaces) in FY24 and is also the first to surpass ₹750 crore in annual revenue within just five years of operations. In FY25, its revenue from operations rose to ₹745.8 crore, reflecting a robust CAGR of 39.72% since FY23.
Key Use of Curefoods India IPO Proceeds
The company plans to allocate ₹152.5 crore from the fresh issue towards:
- Establishing new Krispy Kreme cloud kitchens, kiosks, and central kitchens (₹126.3 crore)
- Expansion of existing kitchens to accommodate new brands (₹19.9 crore)
- Equipment and machinery purchases for strategic initiatives (₹6.3 crore)
Curefoods owns and operates 10 key brands including:
- EatFit
- CakeZone
- Krispy Kreme
- Nomad Pizza
- Sharief Bhai Biryani
- Frozen Bottle
- Olio Pizza
- Millet Express
These brands cater to a diverse consumer base across multiple cuisines, meal occasions, and dietary preferences – from healthy meals to indulgent desserts.
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As of March 31, 2025, the company operates:
- 281 cloud kitchens
- 122 restaurants
- 99 kiosks
- 5 central kitchens
- 13 warehouses
- With a total of 502 service locations in 70+ Indian cities
Curefoods also expanded internationally in 2024, launching Sharief Bhai in the UAE, signaling its global ambitions.
Digital and Delivery Ecosystem
The company has deep integration with Swiggy, Zomato (now Eternal Limited), and its own proprietary app and website. Its delivery-first model and tech-driven operations have helped scale order volumes from 11.3 million in FY23 to 18.2 million in FY25.
IPO Advisors
The Book Running Lead Managers (BRLMs) for the Curefoods India IPO are:
- JM Financial Limited
- IIFL Capital Services Limited
- Nuvama Wealth Management Limited
