Latest news with #CurefoodsIndia
Yahoo
7 hours ago
- Business
- Yahoo
Cloud kitchens operator Curefoods India files papers for IPO
Cloud kitchens operator Curefoods India has filed preliminary papers with the Securities and Exchange Board of India to raise funds through an initial public offering (IPO). The IPO will comprise a fresh issuance of shares worth Rs8bn ($97m) and an offer-for-sale of 48.5 million equity shares by existing shareholders, as reported by the Press Trust of India via the Economic Times. The offer-for-sale involved the offloading of shares from Accel India V, the Alteria Capital Fund, Chiratae Ventures India Fund IV, Crimson Winter, Curefit Healthcare Global eCommerce Consolidation Fund and Iron Pillar PCC. Bengaluru based CureFoods operates brands such as CakeZone and Nomad Pizza and plans to raise $19m in a pre-IPO round. If the pre-IPO placement is completed, the size of the fresh issue will be reduced accordingly. The IPO proceeds will be used for purposes such as allocating $18m for expansion and equipment: $15m for new Krispy Kreme cloud kitchens, restaurants, kiosks and central kitchens, $2.4m for expanding existing cloud kitchens, and $760,000 for purchasing machinery. An additional $15m will be allocated for debt repayment, $4.8m for lease payments for current properties, and $1.7m for sales and marketing efforts. The company also intends to invest $11m in its subsidiary, Fan Hospitality Services, $1.4m in Cakezone Foodtechs and $9.8m for acquiring further shareholding in three subsidiaries. A portion of the proceeds will also fund future acquisitions, strategic initiatives and general corporate purposes. Curefoods India is an online multi-brand food services company offering diverse cuisines through delivery and non-delivery channels, including cloud kitchens, kiosks and restaurants. JM Financial, IIFL Capital Services and Nuvama Wealth Management are serving as the book-running lead managers for the public issue. "Cloud kitchens operator Curefoods India files papers for IPO" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
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Business Standard
7 hours ago
- Business
- Business Standard
Curefoods India files DRHP with Sebi, aims to raise ₹800 cr for expansion
Upcoming IPO: Bengaluru-based Curefoods India, a multi-brand food services company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its maiden public issue. The initial public offering (IPO) comprises a combination of a fresh issue of face value of ₹1 per share aggregating up to ₹800 crore and an offer for sale (OFS) of up to 48.5 million equity shares. The investors selling shareholders include Iron Pillar PCC, Crimson Winter, Accel India V (Mauritius), Chiratae Ventures, Global Ecommerce Fund, Alteria Capital, Curefit Healthcare, and others. Kfin Technologies is the registrar for the issue. JM Financial, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers. According to the DRHP, the company plans to utilise ₹152.54 crore from the net fresh issue proceeds primarily for expansion and equipment, including ₹126.32 crore for establishing new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchen. In addition, ₹19.91 crore will be used for expanding select existing cloud kitchens by adding new brands and ₹6.31 crore towards the purchase of machinery and equipment, and strategic initiatives. About Curefoods India Curefoods India is an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs. According to the DRHP, the company is among the top two leading cloud kitchen companies in terms of service locations covered, as of March 31, 2025. It leverages a multi-channel approach that integrates both delivery and non-delivery channels. Curefoods India's brand portfolio includes EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and Krispy Kreme. As of March 31, 2025, the company had a presence across 502 service locations in more than 70 cities and towns in India. Its offline network comprises five central kitchens, 281 cloud kitchens, 99 kiosks, 122 restaurants, and 13 warehouses. Curefoods India's revenue from operations came in at ₹754.8 crore in FY25, up 27.46 per cent from ₹585.11 crore in the previous fiscal. Its net losses narrowed to ₹169.9 crore in FY25 from ₹172.6 crore in the previous year.
Mint
8 hours ago
- Business
- Mint
Upcoming IPO: Curefoods India files DRHP with Sebi for public issue; Details here
Multi-brand food services company Curefoods India has filed draft papers with markets regulator Securities and Exchange Board of India (SEBI) to raise funds via initial public offering (IPO). The upcoming IPO will consist of a fresh issue of shares worth ₹ 800 crore and an offer-for-sale (OFS) involving 4.85 crore equity shares by existing stakeholders, as detailed in the draft red herring prospectus (DRHP). As part of the OFS, shareholders including Curefit Healthcare, Iron Pillar PCC, Crimson Winter, Accel India V, Chiratae Ventures India Fund IV, Global eCommerce Consolidation Fund, and Alteria Capital Fund will divest their holdings. Bengaluru-based Curefoods India, which owns brands like CakeZone and Nomad Pizza, also aims to raise up to ₹ 160 crore in a pre-IPO round. From the IPO proceeds, ₹ 152.54 crore is earmarked for expansion and equipment— ₹ 126.32 crore will go toward establishing new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; ₹ 19.91 crore for expanding select existing cloud kitchens by adding new brands; and ₹ 6.31 crore for acquiring machinery and equipment. Additionally, ₹ 126.93 crore will be used to repay debt, ₹ 40 crore for lease obligations related to its properties in India, and ₹ 14 crore will support sales and marketing. The company will also invest ₹ 91.96 crore in its subsidiary Fan Hospitality Services, ₹ 11.35 crore in Cakezone Foodtechs, and ₹ 81.15 crore to increase its stake in three subsidiaries: Millet Express Foods, Munchbox Frozen Foods, and Yum Plum. Some proceeds will be allocated for future acquisitions, strategic initiatives, and general corporate purposes. Curefoods India operates as a tech-enabled, multi-brand food services platform, offering a wide range of cuisines through both delivery and dine-in formats via cloud kitchens, kiosks, and restaurants. JM Financial, IIFL Capital Services, and Nuvama Wealth Management are acting as the book-running lead managers for the public offering. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
a day ago
- Business
- Business Standard
Cloud kitchens operator Curefoods files IPO papers; aims to raise Rs 800-cr
Cloud kitchens operator Curefoods India on Sunday filed preliminary papers with markets regulator Sebi seeking its approval to raise funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issuance of shares worth Rs 800 crore, and an offer-for-sale of 4.85 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). As part of the OFS, Curefit Healthcare, Iron Pillar PCC, Crimson Winter, Accel India V, Chiratae Ventures India Fund IV, Global eCommerce Consolidation Fund and Alteria Capital Fund will be offloading shares. The Bengaluru-based Curefoods India, which operates CakeZone and Nomad Pizza, plans to mobilise up to Rs 160 crore in pre-IPO round. If it completes the pre-IPO placement, then the size of the fresh issue will be reduced accordingly. Proceeds from the IPO to the tune of Rs 152.54 crore will be allocated towards expansion and equipment, including Rs 126.32 crore for setting up new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; Rs 19.91 crore for expanding certain existing cloud kitchens through brand additions, and Rs 6.31 crore for purchasing machinery and equipment. In addition, Rs 126.93 crore will be used for payment of debt, Rs 40 crore for lease payments for the company's current properties in India and Rs 14 crore on sales and marketing efforts. Also, the company plans to invest Rs 91.96 crore in its subsidiary, Fan Hospitality Services, another Rs 11.35 crore will be invested in Cakezone Foodtechs and Rs 81.15 crore will be used for acquiring further shareholding in three subsidiaries -- Millet Express Foods, Munchbox Frozen Foods and Yum Plum. A portion of the proceeds will also be earmarked for funding future acquisitions and strategic initiatives, along with general corporate purposes. Curefoods India is an internet-driven multi-brand food services company offering comprehensive cuisines. Its multi-channel approach includes providing food offerings to customers under its brands through delivery and non-delivery channels, comprising cloud kitchens, kiosks, and restaurants. JM Financial, IIFL Capital Services and Nuvama Wealth Management are the book-running lead managers to the public issue.
