IPO
Cloud kitchen platform Curefoods defers Rs.800-Cr IPO plans: report
Bengaluru-based cloud kitchen platform Curefoods has postponed its planned INR 800 crore initial public offering (IPO). The company decided to defer the public issue after failing to secure a valuation of INR 4,000 crore from mutual funds and other institutional investors during recent roadshows.Founded by Ankit Nagori, the company operates several food brands, including EatFit, Nomad Pizza, Sharief Bhai Biryani, CakeZone, Frozen Bottle, and the recently acquired Krispy Kreme. The firm intended to use the proceeds from the fresh issue for expansion across its network of cloud kitchens, restaurants, and kiosks, as well as for debt repayment.
Between Aug 2021 and Sep 2025, Curefoods had attracted about $ 240 M from Iron Pillar, Nordstar, Rukam Capital, Trifecta Capital, Alteria Capital, BlackSoil Capital, Chiratae Ventures, Sixteenth Street Capital, Three State Ventures, Accel India, NB Ventures, Pivot Ventures, RB Investments, Winter Capital, Zephyr Peacock and others.For FY25, Curefoods had reported about INR 323 Cr in Operating Income and about INR 117 Cr in Net Loss.
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