Curefoods India Limited, an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs, has raised Rs 160 crore (Rs 159,49,99,972) in a pre-IPO placement, allotting 1.28 crore equity shares at Rs 124 per share to 3State Ventures Pte. Ltd. This placement was approved by the Board through resolution dated September 10, 2025, and by shareholders through resolution dated September 15, 2025, and will be factored into the sizing of the fresh issue under SEBI ICDR norms.
Promoted by Ankit Nagori, Curefoods has emerged as one of India’s largest cloud kitchen operators, with a portfolio of popular food brands including EatFit, Nomad Pizza, CakeZone, Frozen Bottle, and Sharief Bhai, as well as tie-ups such as Krispy Kreme. The company has scaled rapidly by leveraging technology, standardized operations, and a multi-brand strategy to tap into India’s growing demand for quality and convenient food delivery.
The Company had earlier filed its DRHP in June 2025 with SEBI for a proposed IPO comprising a Fresh Issue of up to Rs 800 crore and an Offer for Sale (OFS) of 4.08 crore equity shares by existing shareholders. Please note that Ankit Nagori is not participating in OFS.
According to its DRHP, the net proceeds from the fresh issue will be deployed towards: (i) expansion of cloud kitchens, kiosks, restaurants, and related infrastructure, (ii) prepayment or repayment of certain borrowings, (iii) investment in subsidiary Fan Hospitality, (iv) funding working capital requirements, and (v) general corporate purposes.
JM Financial Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), and Nuvama Wealth Management Limited are the Book Running Lead Managers to the issue.
