Curefoods gets SEBI approval for Rs 800 crore IPO: report
Curefoods plans to raise Rs 800 crore through the IPO, but founder Ankit Nagori will not participate in the issue.
The initial public offering (IPO) of Curefoods, the cloud kitchen startup founded by Ankit Nagori, has received approval for its Rs 800 crore issue from market regulator SEBI, according to a report.
Curefoods, which operates several brands such as EatFit, Sharief Bhai Biryani, and Nomad, got the approval from SEBI with some of its investors like Iron Pillar, Accel Partners, and Chiratae Ventures set to participate in the issue, according to a report by Moneycontrol.
The IPO will consist of fresh issuance of shares worth Rs 800 crore and an offer for sale of 4.85 equity shares by existing shareholders. However, founder Ankit Nagori will not participate in the issue.
The proceeds of IPO is expected to be used for various activities of Curefoods, which include expanding the cloud kitchen network, infrastructure, marketing and branding initiatives, and reduction of debt.
Founded in 2020, Curefoods reported a revenue of Rs 746 crore for FY26 with a net loss of Rs 170 crore, as per Moneycontrol. A report by Chittorgarh said, as of March 31, 2025, the company has 502 service locations across 70 cities and towns, with five central kitchens, 281 cloud kitchens, 99 kiosks, 122 restaurants and 13 warehouses. The company primarily sells through online food delivery platforms like Swiggy, Zomato, and its own direct-to-consumer (D2C) channels.
Recently, Ankit Nagori spoke about the startup’s future plans where he credited the growth to “dreaming big and executing with discipline,” while stressing the importance of quality, customer trust, and team culture in shaping Curefoods’ trajectory.
“While milestones like this are a moment to pause and celebrate, they’re also a reminder that our journey has only just begun,” Nagori wrote on X, thanking employees, partners, investors, and customers for their support.
Curefoods, as part of its next growth phase, aims to get into Tier II and III cities. Factors such as rising disposable incomes, an expanding gig workforce, and greater adoption of digital payments are expected to drive food delivery and organised food services in these markets.