Cloud kitchen operator Curefoods, the company behind popular food brands such as EatFit, CakeZone, and Krispy Kreme (India), has received approval from the Securities and Exchange Board of India (SEBI) to launch its ₹800 crore initial public offering (IPO), as reported by Moneycontrol.
The public issue will consist of a fresh equity issue along with an offer-for-sale (OFS) of up to 4.85 crore shares, giving several early investors a chance to either trim down or fully exit their stakes.
Ankit Nagori, founder and CEO of Curefoods, will retain his entire holding and has confirmed that he will not be selling any of his shares in the IPO.
Investors planning to offload part of their holdings include Iron Pillar, Crimson Winter, Accel, Chiratae Ventures, and Curefit Healthcare — the last of which was co-founded by Mukesh Bansal and Ankit Nagori.
According to the report, Iron Pillar PCC will be the largest seller, offering around 1.91 crore shares. Crimson Winter will sell roughly 97.6 lakh shares, followed by Accel (45.7 lakh shares), Chiratae Ventures (36.6 lakh shares), and Curefit Healthcare (12.8 lakh shares).
Iron Pillar is also set to be the biggest beneficiary of the IPO, with its estimated exit value projected to be 2.6 times higher than that of Accel and Chiratae, based on the weighted average acquisition cost.
With this move, Curefoods is poised to strengthen its presence in India’s rapidly growing cloud kitchen space while rewarding early backers who bet on its multi-brand food ecosystem early on.
