Curefoods India IPO
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About Curefoods India
Curefoods is a multi-brand food services company established in 2020, operating through a comprehensive network of cloud kitchens, restaurants, and kiosks across India. The company operates a portfolio of 10 key brands designed to cater to multiple price points, different cuisines, and various meal preferences throughout the day, including healthy options like EatFit and HRX, as well as indulgent treats through franchising rights for Krispy Kreme.
The company leverages a hub-and-spoke business model with five central kitchens serving as hubs that prepare food for multiple brands, which is then distributed to 502 service locations across over 70 cities and towns in India. These service locations include 281 cloud kitchens, 99 kiosks, and 122 restaurants, supported by 13 warehouses for supply chain management.
Curefoods operates through both delivery and non-delivery channels, with strong integration across food delivery platforms including Swiggy and Zomato, alongside its own website.
Financials of Curefoods India
Issue size
| Funds Raised in the IPO | Amount |
| Overall | – |
| Fresh Issue | ₹ 800 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Expenses to set up new cloud kitchens, expansion of existing cloud kitchens, and purchase of machinery and equipment. | 152.54 (19.07%) |
| Repayment or prepayment of borrowings | 126.93 (15.87%) |
| Expenses towards lease payments for existing properties | 40.00 (5.00%) |
| Investment in the company’s Subsidiary, Fan Hospitality Services Private to acquisition of additional shares and setting up new central kitchen, cloud kitchen and restaurants. | 91.96 (11.50%) |
| Investment in the company’s subsidiary, Cakezone Foodtech for acquisition of additional shares, and sales and marketing initiatives | 11.35 (1.42%) |
| Acquisition of additional shareholding in the company’s subsidiaries. | 81.15 (10.14%) |
| Payment of deferred consideration by the Company under the business transfer agreement entered into by the Company with Jaika Hospitality Ventures Private Limited and its founders | 2.50 (0.31%) |
|
Expenditure towards sales and marketing |
14.00 (1.75%) |
|
Funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes. |
– |
Strengths
- Second-largest digital-first food brand with 502 locations across 70+ cities.
- Diverse portfolio of 10+ brands catering to multiple cuisines and price points.
- Tech-driven supply chain and stringent quality control ensure food safety and freshness.
- Led by seasoned professionals and backed by marquee institutional investors.
Risks
- High reliance on food aggregators exposes business to platform-driven disruptions.
- Diverse brand portfolio adds operational complexity, raising costs and risks of inconsistency.
- Failure to acquire or integrate new food brands may disrupt growth plans.
- Brand reputation issues or negative customer feedback may harm growth.
- Volatility in raw material prices or shortages may impact margins.
- Failure to adapt to evolving consumer preferences may reduce demand and revenue.
- Non-compliance with health, safety or labour laws may lead to penalties.
Allotment Status for Curefoods India
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