Multi-brand food services company Curefoods India has officially filed its draft papers with the Securities and Exchange Board of India (SEBI), gearing up to raise capital through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP), the IPO will feature a fresh issue of shares worth ₹800 crore, along with an offer-for-sale (OFS) of 4.85 crore equity shares by existing investors.
Prominent shareholders participating in the OFS include Curefit Healthcare, Iron Pillar PCC, Crimson Winter, Accel India V, Chiratae Ventures India Fund IV, Global eCommerce Consolidation Fund, and Alteria Capital Fund.
Headquartered in Bengaluru, Curefoods India operates popular brands such as CakeZone and Nomad Pizza. The company is also planning to raise up to ₹160 crore in a pre-IPO round to bolster its finances ahead of the listing.
How Curefoods Plans to Use IPO Funds
A significant portion of the IPO proceeds has been earmarked to drive expansion and reduce liabilities:
- ₹152.54 crore will be invested in growth and equipment:
- ₹126.32 crore to set up new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens
- ₹19.91 crore to expand select existing cloud kitchens with additional brands
- ₹6.31 crore to purchase machinery and equipment
- ₹126.93 crore will be used to repay debt
- ₹40 crore will cover lease obligations in India
- ₹14 crore will go toward sales and marketing initiatives
The company also plans to strengthen its subsidiary businesses:
- ₹91.96 crore investment in Fan Hospitality Services
- ₹11.35 crore for Cakezone Foodtechs
- ₹81.15 crore to increase stakes in Millet Express Foods, Munchbox Frozen Foods, and Yum Plum
Additional funds are earmarked for future acquisitions, strategic initiatives, and general corporate purposes.
About Curefoods India
Curefoods is a tech-enabled, multi-brand food services platform offering a wide range of cuisines through cloud kitchens, dine-in restaurants, and kiosks. The company leverages technology to optimize operations and reach consumers across formats and geographies.
IPO Advisors
JM Financial, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers for this public issue.
Stay tuned as Curefoods India moves closer to its market debut, aiming to accelerate its growth story in India’s fast-evolving food services sector.
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