Overview

• Curefoods filed its draft red herring prospectus with SEBI to raise Rs 800 crore through a fresh share issue and an offer-for-sale of up to 4.95 crore existing shares.
• JM Financial, IIFL Capital and Nuvama Wealth are managing the issue and the company plans to list on NSE and BSE once it secures SEBI approval.
• Around Rs 152.5 crore will finance new cloud kitchens, brand expansions including Krispy Kreme outlets and equipment purchases, while Rs 126.9 crore is earmarked for debt repayment.
• Since its 2020 launch, the Bengaluru-based operator has expanded to over 500 kitchens across more than 40 cities under eight to ten brands including EatFit and Krispy Kreme, posting Rs 585 crore in revenue and a Rs 173 crore net loss in FY24.
• The startup is also exploring a pre-IPO funding round that could adjust the size of its proposed public offering.