Curefoods, India's second-largest internet-driven multi-brand food services player, is gearing up for a significant move in the public market. The company has announced plans to raise ₹800.00 crore through an initial public offering (IPO), combining fresh equity with an offer for sale of 4.85 crore shares.

Expansive Operational Footprint

Curefoods boasts an impressive operational network spanning 70 towns and cities across India. The company's infrastructure includes:

• 281 cloud kitchens
• 99 kiosks
• 122 restaurants
• 5 central kitchens

This extensive network allows Curefoods to prepare up to 1 lakh meals daily, showcasing its substantial production capacity.

Strong Financial Performance

The company has demonstrated robust financial growth, reporting a 27% increase in revenue, reaching ₹746.00 crore in the last fiscal year. This growth underscores the company's strong market position and the increasing demand for its diverse food offerings.

Asset-Light, Multi-Brand Strategy

Founder Ankit Nagori highlighted the company's strategic approach, emphasizing an asset-light, multi-brand model. Curefoods operates several popular brands across various meal segments, including:

• EatFit
• CakeZone
• Olio Pizza
• Krispy Kreme (franchise)

Advantages of Cloud Kitchens

The company's focus on cloud kitchens offers significant operational benefits:

These advantages contribute to Curefoods' efficient and scalable business model.

Technology-Driven Operations

Curefoods leverages advanced technology to optimize its operations:

• AI-powered demand estimation
• Production planning
• Logistics optimization
• Centralized management systems
• Direct API connectivity with food aggregators

This tech-forward approach enables Curefoods to streamline its processes and enhance overall efficiency.

Looking Ahead

With its planned IPO, Curefoods is poised to capitalize on the growing food delivery and cloud kitchen market in India. The company's multi-brand strategy, extensive operational network, and technology-driven approach position it well for potential future growth in the competitive food services industry.

As Curefoods prepares for its public debut, investors and industry observers will be keenly watching how this innovative player in the food services sector performs in the public market.

Curefoods, a multi-brand food services company based in Bengaluru, is gearing up for an Initial Public Offering (IPO) to fund its ambitious expansion plans into Tier-2 cities. The company, which has shown significant growth in recent years, sees untapped potential in smaller urban centers across India.

Strong Financial Performance

Curefoods reported impressive financial results, with operating revenues reaching Rs 746.00 crore, marking a 27.46% year-on-year increase. The company currently operates from 502 service locations spread across 70 towns and cities in India.

IPO Details

The upcoming IPO comprises two components:

• A fresh issue worth Rs 800.00 crore
• An offer for sale of 4.85 crore equity shares

Expansion Strategy

A significant portion of the IPO proceeds, approximately Rs 152.53 crore, is earmarked for expansion. This expansion plan includes:

• Setting up new cloud kitchens
• Opening additional restaurants and kiosks
• Establishing Krispy Kreme Theatres

Additional Fund Utilization

The remaining funds from the IPO will be allocated to:

• Developing a central kitchen
• Acquiring stakes in subsidiaries, including Cakezone Foodtech and Millet Express Foods
• Reducing debt
• Strengthening marketing efforts

Company Background

Founded in 2020 by Ankit Nagori, Curefoods has quickly established itself in the food services market. The company operates several popular brands, including:

• EatFit
• CakeZone
• Olio Pizza
• Sharief Bhai Biryani

Market Opportunity

Curefoods' focus on Tier-2 cities is driven by two key factors:

1. Rising disposable incomes in these areas
2. Increasing penetration of digital payment solutions

The company sees these trends as catalysts for growth in the food services sector beyond major metropolitan areas.

Industry Outlook

The Indian food services market is experiencing robust growth:

• Current valuation: Rs 6.60 lakh crore
• Projected valuation: Rs 12.00-12.60 lakh crore by 2030

This projected growth underscores the potential that Curefoods aims to tap into with its expansion strategy.

As Curefoods prepares for its IPO and sets its sights on Tier-2 cities, it positions itself to capitalize on the evolving landscape of India's food services industry. The success of this expansion could significantly impact the company's future growth trajectory and market position.