Curefoods India, the multi-brand cloud kitchen operator, has secured ₹160 crore through a pre-IPO placement led by 3State Ventures, the investment arm co-founded by Flipkart’s Binny Bansal.
In this strategic move, Curefoods allotted 1.3 crore equity shares at ₹124 each to 3State Ventures, setting the stage before its planned public listing. The decision to route this capital through a pre-IPO round will be adjusted against the fresh issue size in the upcoming IPO in line with SEBI norms.
Earlier this year, Curefoods filed its draft red herring prospectus (DRHP) with SEBI, targeting a total capital raise of up to ₹800 crore. The offering is structured to include both a fresh issue and an offer for sale by existing backers including Iron Pillar, Chiratae Ventures, Accel, and Crimson Winter.
Curefoods plans to deploy the proceeds from the fresh issue toward expanding its network of kitchens and restaurants, investing in subsidiary ventures such as Fan Hospitality, repaying outstanding debt, and bolstering working capital reserves. The company recorded revenue from operations of ₹745.8 crore for the fiscal year ending March 2025, up from ₹585.1 crore in FY24, while its losses remained largely flat at ₹170 crore.
Book running for the transaction is being managed by JM Financial, IIFL Capital, and Nuvama Wealth Management. Brands under the Curefoods umbrella include EatFit, CakeZone, Nomad Pizza, Frozen Bottle, and Sharief Bhai.
