Cure Foods, a multi-brand food services company, has raised ₹160 crore in its pre-IPO placement ahead of its upcoming initial public offering (IPO). The company has issued 1.28 crore equity shares at ₹124 each to 3State Ventures Pte. Ltd.
Cure Foods’ portfolio features brands such as EatFit, Nomad Pizza, CakeZone, Frozen Bottle, and Sharief Bhai, and includes partnerships with well-known entities, including Krispy Kreme.
The company plans to raise ₹800 crore through a public offering, which will consist of both fresh equity and an offer for sale comprising 4.85 crore shares. Proceeds from the fresh issue will be allocated to expanding cloud kitchens, kiosks, and restaurants, as well as related infrastructure. Additional funds will go towards the prepayment or repayment of certain debts, investment in subsidiary Fan Hospitality, covering working capital needs, and general corporate expenses.
Currently, Cure Foods operates a network of 502 service locations spanning 70 towns and cities in India, encompassing 281 cloud kitchens, 99 kiosks, and 122 restaurants.
The Book Running Lead Managers for the IPO include JM Financial Limited, IIFL Capital Services Limited (formerly IIFL Securities Limited), and Nuvama Wealth Management Limited.
Published on September 26, 2025.
