Curefoods Initiates Talks With Bankers For $300-400 Mn IPO: Report

Curefoods Initiates Talks With Bankers For $300-400 Mn IPO: Report

SUMMARY

Cloud kitchen startup Curefoods is likely to float its initial public offering (IPO) in the latter part of FY26 and raise around $300-400 Mn through the share sale

Curefoods operates a diverse portfolio of brands including EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, and Frozen Bottle

Curefoods reported a loss of INR 172.6 Cr in FY24 on an operating revenue of INR 585.1 Cr

Bengaluru-based cloud kitchen startup Curefoods is preparing to launch its initial public offering (IPO) soon, joining the wave of startup IPOs in the pipeline for 2025.

The Accel-backed startup is likely to float its IPO in the latter part of the financial year 2025-26 (FY26) and raise around $300-400 Mn via its initial share sale, Moneycontrol reported, citing sources.

The company has reportedly initiated talks with bankers to pitch for its IPO and advisers are expected to be finalised in the coming days.

It is to be noted that the size of the IPO is not yet fixed and may change depending upon the amount of secondary share sales by existing shareholders.

Curefoods declined to comment on Inc42’s queries on the development.

Founded by Ankit Nagori in 2020, Curefoods operates a diverse portfolio of brands including EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, and Frozen Bottle. It claims to manage more than 200 cloud kitchens and offline outlets, offering over 10 cuisines across 15 cities in India.

In March last year, the startup raised  INR 200 Cr (around $25 Mn) from Flipkart cofounder Binny Bansal’s Three State Ventures.

In 2023, Curefoods secured INR 300 Cr ($37 Mn) in a funding round led by Three State Ventures. The round was a mix of primary and secondary equity and debt.

The company trimmed its net loss by 49.64% to INR 172.6 Cr in FY24 from INR 342.7 Cr in FY23. Operating revenue zoomed 53.17% to INR 585.1 Cr in FY24 from INR 382 Cr in the previous fiscal year.

As per Inc42’s predictions, at least 20 startups are eyeing a public listing this year amid renewed investor interest in new-age tech stocks and the boom in the broader IPO market.

Among the new-economy companies looking to list on bourses in 2025 are Ather Energy, Fractal, ArisInfra, Ecom Express, Zepto, BlueStone and Smartworks among others.

Earlier this month, Inc42 reported that SoftBank-backed adtech unicorn InMobi is looking to file its draft red herring prospectus (DRHP) with market regulator SEBI for its $1 Bn+ IPO by April. The company is planning to make its public debut in October and eyeing a valuation of $8-10 Bn for its IPO.

The likes of Lenskart, Groww, Zetwerk, OfBusiness, and Pine Labs are also stitching up plans for mega IPOs worth about $1 Bn.

 

 

 

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Curefoods Initiates Talks With Bankers For $300-400 Mn IPO: Report-Inc42 Media
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