Curefoods India Limited

Curefoods India Limited (New IPO): GMP, Price, Review, Profit

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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.

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 handles 18+ million orders annually, reflecting strong customer reach.

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

Curefoods India Limited has filed its DRHP with SEBI for a proposed IPO featuring a Fresh Issue of ₹ 800 Crore and Offer for Sale of 48,537,599 Equity Shares (OFS).

Subscription date to apply for the IPO is yet to be announced. Price band for the IPO is also pending to be declared.

Check DRHP
Check IPO Allotment
Visit Official Website
Issue Size:₹ 800 Cr + 48,537,599 Equity Shares
Fresh Issue:₹ 800 Cr
Offer for Sale:48,537,599 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Curefoods India Limited important data points

Revenue, PAT, EBITDA

YearFiscal 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:₹ 01

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Capacity Expansion & Lease Payment₹ 152.53 Cr + ₹ 40 Cr
Investment in our Subsidiary₹ 184.45 Cr
Borrowing prepayment/repayment₹ 126.92 Cr
Payment of Deferred consideration + Marketing & Promotions₹ 2.50 Cr + ₹ 14 Cr

Curefoods India Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 382.0₹ 585.1₹ 745.8
PAT (₹ Cr)₹ -342.7₹ -172.6₹ -170.0
Asset (₹ Cr)₹ 952.5₹ 866.1₹ 1,042.7
Net Worth (₹ Cr)₹ 555.1₹ 454.7₹ 510.2

Curefoods India Limited IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
25-May₹ –₹ –₹ –
24-May₹ –₹ –₹ –
23-May₹ –₹ –₹ –
22-May₹ –₹ –₹ –
21-May₹ –₹ –₹ –
Curefoods India Limited

Curefoods India Limited Pro’s and Con’s

Strengths:

  • 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.

Risks:

  • 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.

Curefoods India Limited Promoters – Pre offer equity (Approx)

Promoters%Shares
Ankit Nagori~ 77.53 %
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Curefoods India Limited Lot Size details

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Curefoods India Limited

Lead / Book Running Lead ManagersJM Financial Limited,
IIFL Capital Services Limited,
Nuvama Wealth Management Limited
Registrar (RTA)Kfin Technologies Limited

Curefoods India Limited FAQ’s

  • 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.
  • 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.
  • 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.
  • Key risks include continuous losses, intense competition in cloud kitchens, reliance on food delivery platforms, and execution risks in scaling operations profitably.
  • 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.
  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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