Cloud kitchens operator Curefoods India has received Securities and Exchange Board of India’s (SEBI) go-ahead to raise funds through initial public offering (IPO). The company is aiming to raise Rs 800 crore through fresh issuance of shares, besides there would be an OFS of 4.85 crore equity shares by existing shareholders.
The company plans to utilise the IPO proceeds towards expansion, including setting up new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; expanding certain existing cloud kitchens through brand additions; purchasing machinery and equipment; investment in its subsidiaries -- Fan Hospitality Services, Cakezone Foodtechs -- and payment of debt. JM Financial, IIFL Capital Services, and Nuvama Wealth Management are the book-running lead managers.
Curefoods India is an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs.
