Curefoods India Pvt Ltd, a leading cloud kitchen operator based in Bengaluru, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO), marking a key milestone in its growth trajectory within India’s expanding foodtech and hospitality landscape.
The IPO comprises a fresh issue of equity shares aggregating up to Rs. 800 crore and an Offer for Sale (OFS) of 4.85 crore equity shares by existing shareholders. The OFS will facilitate partial exits by several early and institutional investors, including Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), Chiratae Ventures India Fund IV, and the Global E-commerce Consolidation Fund. Additional selling shareholders include Alteria Capital Fund and Curefit Healthcare.
As outlined in the DRHP, Curefoods may also consider a pre-IPO placement of up to Rs 160 crore, which would result in a corresponding reduction in the size of the fresh issue if executed.
Founded by Ankit Nagori, former Flipkart executive, Curefoods operates a portfolio of digital-first food brands through its cloud kitchen model, catering to the increasing demand for delivery-centric dining across India’s urban centers.
Post-issue, Nagori is expected to retain a 27.80% stake, remaining the largest shareholder. 3State Ventures Pte, the investment vehicle of Flipkart co-founder Binny Bansal, will hold 17.32%, followed by Iron Pillar (13.53%), Chiratae Ventures (8.23%), and Accel India V (7.17%).
Proceeds from the fresh issue will be directed toward expanding operational capabilities, strengthening the cloud kitchen infrastructure, and supporting strategic growth initiatives.
The proposed IPO underscores growing investor confidence in India’s consumer internet and food delivery ecosystem, as the sector continues to witness rapid transformation and scale.
