Q1. What is the business of Curefoods India Limited?

It operates a tech-driven cloud kitchen platform managing multiple digital food brands, offering diverse cuisines through delivery-first and dine-in formats across India.

Q2. Why is the company raising funds via IPO?

Curefoods is raising funds via IPO to fund expansion of cloud kitchens, brand growth, debt repayment, and general corporate purposes to strengthen its pan-India food services presence.

Q3. What is the size of the issue and where will it list?

The issue size of the IPO comprises of ₹ 800 Cr fresh issue + OFS of ~4.85 Cr equity shares. It will be listed on BSE and NSE platform.

Q4. What are the key risks to an investor?

Key risks include continuous losses, intense competition in cloud kitchens, reliance on food delivery platforms, and execution risks in scaling operations profitably.

Q5. What are the potential upsides?

Upsides include strong growth in online food delivery, scalable cloud kitchen model, diversified brands, and experienced leadership position the company for long-term expansion opportunities.

Q6. How to apply for the IPO?

Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

Curefoods India Limited

Upcoming

Curefoods India Limited

Market Cap

—

IPO Issue Size

₹ 800 Cr + 48,537,599 Equity Shares

Expected Price by IPOCorner

—

IPO Score

*Score varies on actual price

Curefoods India Limited is a cloud kitchen and food services company that operates multiple digital-first restaurant brands, focusing on delivery-led dining experiences. It manages a portfolio of brands across cuisines, leveraging technology, centralized kitchens, and scalable operations to serve customers across major Indian cities.

Curefoods India Limited was incorporated in 2020.Mr. Ankit Nagori serves as the Managing Director and CEO of the company.

It is an internet-driven multi-brand food services company offering a wide range of cuisines through cloud kitchens and restaurants.Its portfolio includes brands like EatFit, CakeZone, Nomad Pizza, and Krispy Kreme, catering to diverse food preferences.It operates 502+ service locations across 70+ cities in India, including cloud kitchens, restaurants, and kiosks. It is among the top 2 cloud kitchen companies by service locations and handled 18+ million orders annually, reflecting strong customer reach.

Subscription date to apply for Curefoods India Limited is yet to be announced. Price band for the IPO is yet to be declared.

₹ 800 Cr + 48,537,599 Equity Shares

Fresh Issue

₹ 800 Cr

Offer for Sale

48,537,599 Equity Shares

Year	2025
Networth	₹ 510.17 Cr
Revenue	₹ 745.79 Cr
EBITDA	₹ -57.58 Cr
PAT	₹ -169.96 Cr
EBITDA Margin	~ -7.72%
PAT Margin	~ -22.79%
Face Value	Rs.01 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
Expenditure towards Expansion & Lease Payments	₹ 152.53 Cr + ₹ 40 Cr
Borrowing Repayment/pre-payment	₹ 126.92 Cr
Investment in our Subsidiary	₹ 184.45 Cr
Payment of deferred consideration by Company	₹ 14 Cr
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	382.04	585.11	745.79
PAT (₹ Cr)	-342.73	-172.61	-169.96
Asset (₹ Cr)	952.52	866.14	1042.7
Net Worth (₹ Cr)	555.1	454.69	510.17

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
23-Aug	₹ –	₹ –	₹ –
22-Aug	₹ –	₹ –	₹ –
21-Aug	₹ –	₹ –	₹ –
20-Aug	₹ –	₹ –	₹ –
19-Aug	₹ –	₹ –	₹ –

Pros

Curefoods India Limited operates a multi-brand cloud kitchen model with strong scalability.
Asset-light and tech-driven business enables faster expansion and better cost control.
Diverse brand portfolio reduces dependency on a single cuisine or concept.
Strong growth in online food delivery industry in India supports long-term demand.
Backed by experienced promoter Ankit Nagori and investors, enhancing credibility.

Cons

Company has a history of losses and profitability concerns.
Highly competitive market with players like Rebel Foods.
Dependence on delivery platforms like Zomato and Swiggy.
Low margins in food delivery business may impact earnings.
Expansion-heavy model may require continuous capital infusion.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Ankit Nagori	~ 27.80 %
-	-
-	-
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	00
ROCE	00
RoNW	00

Lead / Book Running Lead Managers

JM Financial Limited. IIFL Capital Services Limited. Nuvama Wealth Management Limited

Registrar (RTA)

KFin Technologies Limited

Q1. What is the business of Curefoods India Limited?
It operates a tech-driven cloud kitchen platform managing multiple digital food brands, offering diverse cuisines through delivery-first and dine-in formats across India.
Q2. Why is the company raising funds via IPO?
Curefoods is raising funds via IPO to fund expansion of cloud kitchens, brand growth, debt repayment, and general corporate purposes to strengthen its pan-India food services presence.
Q3. What is the size of the issue and where will it list?
The issue size of the IPO comprises of ₹ 800 Cr fresh issue + OFS of ~4.85 Cr equity shares. It will be listed on BSE and NSE platform.
Q4. What are the key risks to an investor?
Key risks include continuous losses, intense competition in cloud kitchens, reliance on food delivery platforms, and execution risks in scaling operations profitably.
Q5. What are the potential upsides?
Upsides include strong growth in online food delivery, scalable cloud kitchen model, diversified brands, and experienced leadership position the company for long-term expansion opportunities.
Q6. How to apply for the IPO?
Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.