Overview

• Curefoods allotted 1.28 crore shares at Rs 124 each to 3State Ventures, with board approval on September 10 and shareholder nod on September 15.
• The company filed draft papers in June for an IPO featuring a fresh issue of up to Rs 800 crore and an offer for sale by existing investors, with JM Financial, IIFL Capital Services and Nuvama as bookrunners.
• Proceeds outlined in filings include expanding cloud kitchens, restaurants, kiosks and Krispy Kreme theatres, investing in subsidiary Fan Hospitality and reducing debt.
• The multi-brand operator spans 502 service locations across 70+ cities, reported about Rs 746 crore in FY25 operating revenue and posted a FY25 net loss of roughly Rs 170 crore.
• 3State Ventures is linked to Flipkart cofounder Binny Bansal, underscoring continuing investor support as Curefoods advances its listing plan.