Curefoods India, one of the leading multi-brand food service platforms in the country, has secured Rs 160 crore in a pre-IPO placement from 3State Ventures. The investment was made through the allotment of 1.28 crore equity shares at Rs 124 per share, giving the company a strong capital push ahead of its upcoming stock market debut.
This fundraise was officially approved first by the Board on 10 September 2025, followed by shareholders on 15 September 2025. As per SEBI ICDR guidelines, the amount raised will also be adjusted against the fresh issue size of the IPO, reducing the capital required to be offered in the main public round.
IPO Plans Continue
Curefoods had filed its Draft Red Herring Prospectus (DRHP) with SEBI in June 2025. The proposed IPO includes a Fresh Issue of up to Rs 800 crore and an Offer for Sale (OFS) of 4.08 crore shares by existing shareholders. Interestingly, Founder and Promoter Ankit Nagori will not dilute his stake through the OFS, signalling long-term confidence in the company’s growth story.
The proceeds from the upcoming IPO are expected to be utilised across several strategic areas including expansion of cloud kitchens, kiosks, restaurants, repayment of debt, investment in subsidiary Fan Hospitality, working capital requirements, and general corporate purposes.
Company Growth Story
Founded and promoted by Ankit Nagori, Curefoods has positioned itself as one of India’s largest cloud kitchen operators, running a diverse portfolio of popular food brands like EatFit, Nomad Pizza, CakeZone, Frozen Bottle, and Sharief Bhai. It also manages partnership-led formats such as Krispy Kreme.
The company has scaled rapidly by using a technology-first model, backed by standardised operations and a multi-brand approach. This allows it to cater to multiple cuisines and dietary preferences from shared infrastructure, improving efficiency and profitability.
Lead Managers Assigned
As per the DRHP, JM Financial Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited have been appointed as the Book Running Lead Managers (BRLMs) for the IPO. Their involvement signals a strong institutional interest in the firm’s public listing.
While the IPO timeline has not been officially announced, industry experts expect the listing to take shape soon after regulatory approvals and market conditions align. With fresh capital already flowing in, Curefoods seems well-prepared to take its next big leap.
What is Curefoods
Curefoods is a cloud kitchen and food delivery powerhouse that operates multiple brands under one umbrella, offering meals ranging from healthy food and pizzas to desserts and regional delicacies. Instead of running dine-in restaurants, it functions through delivery-first kitchens, optimising real estate and operations by preparing food for multiple brands in one location.
This model allows Curefoods to scale faster, enter new cities quickly, and serve customers through online platforms like Swiggy, Zomato, and its own delivery network. With increasing digital consumption of food in India, companies like Curefoods are redefining how Indian households order meals.
With fresh funds coming in before its IPO, Curefoods is signalling strong growth momentum and investor trust. As India’s food delivery market continues to expand, the company is gearing up to capture a much larger share of the plate—both literally and financially.
