BENGALURU: Curefoods India, the multi-brand cloud kitchen operator promoted by Ankit Nagori, has raised about Rs 160 crore in a pre-IPO placement ahead of its planned listing. The company allotted about 1.3 crore equity shares at Rs 124 apiece to 3State Ventures, the investment arm of Flipkart co-founder Binny Bansal.The placement, cleared by CureFoods’ board on September 10 and shareholders on September 15, will be adjusted against the fresh issue size in its upcoming IPO, in line with Sebi norms.CureFoods had filed its draft red herring prospectus with Sebi in June, seeking to raise up to Rs 800 crore through a fresh issue of shares, alongside an offer-for-sale of 4.85 crore shares by existing investors, including Iron Pillar, Chiratae Ventures, Accel and Crimson Winter. The company said proceeds from the fresh issue will go into expanding kitchens and restaurants, investing in subsidiaries such as Fan Hospitality, repaying borrowings, and meeting working capital needs. JM Financial, IIFL Capital and Nuvama Wealth Management are the book-running lead managers to the issue.Nagori-led CureFoods, which operates brands such as EatFit, CakeZone, Nomad Pizza, Frozen Bottle and Sharief Bhai, reported revenue from operations of Rs 745.8 crore in the financial year ended March 2025, compared with Rs 585.1 crore a year ago. Loss in FY25 remained flat at Rs 170 crore versus Rs 172.6 crore in FY24.
