Curefoods Raises ₹160 Crore from 3State Ventures Ahead of IPO Filing

Curefoods allotted 1.28 crore equity shares at ₹124 per share to 3State Ventures. The pre-IPO placement, valued at ₹159.5 crore, was approved by the company’s board on September 10, 2025, and received shareholder approval on September 15, 2025.

The placement will be included in the overall IPO sizing under SEBI ICDR regulations.

Curefoods’ IPO Plan

In June 2025, Curefoods filed its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO comprising:

• Fresh issue of up to ₹800 crore

• Offer for Sale (OFS) of 4.08 crore shares by existing investors

Promoter Ankit Nagori, founder and CEO, will not participate in the OFS.

According to the DRHP, proceeds from the fresh issue will be utilized for:

• Expansion of cloud kitchens, kiosks, and restaurants

• Repayment and prepayment of borrowings

• Investment in subsidiary Fan Hospitality

• Working capital requirements

• General corporate purposes

Curefoods’ Growing Food Brand Portfolio

Founded by former Flipkart executive Ankit Nagori, Curefoods has built one of India’s most diverse food brand portfolios. The company owns and operates:

• EatFit

• Nomad Pizza

• CakeZone

• Frozen Bottle

• Sharief Bhai

It also manages tie-ups with global chains such as Krispy Kreme. With a tech-driven approach and a multi-brand cloud kitchen model, Curefoods has rapidly expanded to cater to India’s growing demand for convenient food delivery.

Lead Managers for the IPO

The IPO will be managed by top investment banks, including:

• JM Financial Limited

• IIFL Capital Services Limited (formerly IIFL Securities)

• Nuvama Wealth Management Limited

Future Outlook

With strong backing from 3State Ventures and an aggressive expansion strategy, Curefoods is expected to strengthen its market position ahead of its IPO. The company’s diversified food portfolio, technology-driven operations, and scalable cloud kitchen model position it well in India’s fast-growing food delivery sector.

FAQs on Curefoods’ Pre-IPO and IPO Plans

1. How much funding did Curefoods raise in the pre-IPO placement?
Curefoods raised ₹160 crore by allotting shares to 3State Ventures at ₹124 per share.

2. Who invested in Curefoods’ pre-IPO round?
The funding came from 3State Ventures Pte. Ltd., a Singapore-based investment firm.

3. What is the size of Curefoods’ upcoming IPO?
The IPO includes a fresh issue of ₹800 crore and an Offer for Sale (OFS) of 4.08 crore shares.

4. Which brands are operated by Curefoods?
Curefoods manages popular brands such as EatFit, Nomad Pizza, CakeZone, Frozen Bottle, and Sharief Bhai, along with a tie-up with Krispy Kreme.

5. What will Curefoods use the IPO proceeds for?
Funds will be deployed towards expansion of cloud kitchens and outlets, debt repayment, investment in subsidiaries, working capital, and corporate needs.