Cloud kitchen operator Curefoods, established by Ankit Nagori, has secured approval from the Securities and Exchange Board of India (SEBI) for its proposed ₹800-crore initial public offering (IPO).
The IPO will consist of a fresh issue of shares worth ₹800 crore, alongside an offer for sale (OFS) of 485,000 equity shares by existing investors. Notably, promoter Ankit Nagori will retain his entire stake and will not divest any holdings during this offering.
Participating in the OFS are existing investors, which include Iron Pillar, Accel Partners, and Chiratae Ventures.
The proceeds from the IPO are earmarked for expanding Curefoods’ cloud kitchen network, enhancing its infrastructure, and funding marketing and brand-building initiatives, as well as reducing existing debt, as stated in the company’s filings.
Founded in 2020, Curefoods manages a portfolio of well-known brands such as EatFit, Sharief Bhai Biryani, and Nomad. For the fiscal year 2026, the company reported revenues amounting to ₹746 crore alongside a net loss of ₹170 crore.
As of March 31, 2025, Curefoods operated across 70 cities and towns, managing a total of 502 service locations, which included 281 cloud kitchens, 122 restaurants, 99 kiosks, 13 warehouses, and five central kitchens.
The company primarily distributes its offerings through online food delivery platforms such as Swiggy and Zomato, in addition to its direct-to-consumer (D2C) channels.
Published on October 25, 2025.
