The startup wave in India’s food-service industry advances further as Curefoods SEBI approval IPO becomes a reality. The Bengaluru-based cloud kitchen operator has obtained the nod from SEBI to launch an Initial Public Offering (IPO) worth up to ₹800 crore. This marks a key milestone not only for Curefoods but also for the broader “cloud-kitchen” business model in India.
What the Approval Means
Curefoods has received regulatory approval to proceed with its IPO via SEBI. According to multiple reports:
- The offering size is up to ₹800 crore through fresh issuance.
- In addition to the fresh issue, an Offer For Sale (OFS) of up to 4.85 crore equity shares by existing shareholders is planned.
- The company’s founder, Ankit Nagori, will not be selling any shares in the public issue, signalling his commitment.
Company Snapshot & Use of IPO Proceeds
Founded as a multi-brand cloud kitchen operator (brands such as EatFit, CakeZone and under the umbrella of Curefoods), the company has grown rapidly. Some key metrics:
- For FY25, the company reported revenues of ~₹745.8 crore (up ~27 % over the prior year) and a net loss of ~₹169.9 crore.
- It operates across 70+ cities/towns with hundreds of service locations (cloud kitchens, kiosks, restaurants).
Use of IPO funds:
- Part of the fresh issue proceeds will be deployed for setting up new cloud kitchens, expanding infrastructure, marketing and brand‐building.
- Some amount is earmarked for repayment/prepayment of borrowings. Moneycontrol
Sector Significance & Competitive Landscape
Curefoods’ SEBI approval for IPO is significant because:
- It is one of the first major cloud kitchen startups in India to publicly list, signalling maturity of the segment.
- It shows investor and regulator confidence in alternative food-service models, beyond traditional restaurants and full-service chains.
- The food-tech / cloud-kitchen segment is under pressure for profitability, operational efficiency and scalability; a public listing raises the stakes.
Investor Considerations & Risks
While the IPO presents opportunity, several risk factors should be weighed:
- Profitability challenge: Despite strong growth in revenues, Curefoods continues to report net losses. The path to sustained profitability is not guaranteed.
- Heavy dependence on aggregators: The company relies significantly on third-party food delivery platforms for order volume – any shift in platform commission or policy could impact margins.
- High attrition, operational scale: Rapid expansion in kitchens and brands brings execution risk—logistics, kitchen utilisation, brand differentiation all matter.
- Market sentiment & valuation: The IPO will be judged not just on growth but on margin improvement, unit economics, and scalability.
What Comes Next
- Curefoods will now set the IPO timetable (opening date, price band, listing exchange) following SEBI approval.
- Investors will watch for final issue details, valuation metrics (price-to-sales, etc), and how the company communicates its growth vs profitability roadmap.
- Post-listing, scrutiny will increase on how well the company executes expansion, controls costs and converts growth into profitability.
Conclusion
The focus keyword — Curefoods SEBI approval IPO — encapsulates a pivotal moment for India’s food-tech / cloud-kitchen ecosystem. With SEBI’s nod in hand for the ₹800 crore public offering, Curefoods is poised to transition from startup to listed company. The journey ahead will test its operational discipline, brand strength and ability to deliver returns for public investors. For those watching the consumer-tech and food-service sectors, this IPO is one to follow closely.
