Curefoods Puts IPO Plans On Hold Amid Market Volatility: Report

Why Has Curefoods Delayed Its IPO Plans?

Cloud kitchen and food services company Curefoods has reportedly decided to put its initial public offering (IPO) plans on hold as uncertain market conditions continue to impact investor sentiment and public market activity.

According to reports, the Bengaluru based company is adopting a cautious approach despite having already secured approval from the Securities and Exchange Board of India (SEBI) for its proposed ₹800 crore public issue.

The development highlights the growing challenges faced by venture backed startups looking to tap public markets amid volatility in equity markets, fluctuating valuations, and softer investor appetite for new listings.

Curefoods now joins a growing list of technology-led companies that are reassessing their IPO timelines while waiting for improved market conditions and stronger demand from institutional and retail investors.

What Was Curefoods Planning Through Its IPO?

The company had filed its draft red herring prospectus (DRHP) with SEBI in October 2025 and subsequently received regulatory approval for the proposed ₹800 crore IPO.

The public issue was expected to support the company’s next phase of expansion while providing liquidity opportunities for existing investors.

However, with market sentiment remaining fragile, Curefoods has reportedly chosen to delay the listing rather than risk launching the issue in an uncertain environment that could impact valuation and subscription demand.

The company has not yet officially commented on the reports, and Entrackr has reached out for further clarification.

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Which Other Startups Have Deferred Listing Plans?

Curefoods‘ decision reflects a broader trend emerging across India’s startup ecosystem.

Several high profile venture backed companies have become increasingly selective about listing timelines, preferring to wait for favorable market conditions before entering public markets.

Reports suggest that companies such as Flipkart and PhonePe have also delayed their IPO plans amid concerns around market volatility and valuation expectations.

Industry observers note that startup founders and investors are prioritizing stronger public market performance and better pricing opportunities over rushing to list during periods of uncertainty.

How Has Curefoods Built Its Business?

Founded by former Flipkart executive Ankit Nagori, Curefoods has emerged as one of India’s largest multi-brand food services platforms.

The company operates a diversified portfolio of food and beverage brands spanning multiple categories, including healthy meals, desserts, pizza, beverages, and regional cuisine.

Its portfolio includes well-known brands such as EatFit, CakeZone, Nomad Pizza, Frozen Bottle, Sharief Bhai, and Krispy Kreme.

The company primarily operates through a cloud kitchen model, allowing it to scale efficiently across cities while minimizing the capital-intensive costs associated with traditional restaurant formats.

Over the years, Curefoods has expanded rapidly through a combination of organic growth, acquisitions, and brand partnerships.

How Is The Company Performing Financially?

Curefoods has continued to improve its financial performance despite challenging market conditions.

For FY25, the company reported operating revenue of ₹745.8 crore, representing a significant increase from ₹585.1 crore recorded in FY24.

At the same time, the company managed to reduce its losses marginally to ₹170 crore from ₹172.6 crore in the previous financial year.

The improvement reflects stronger scale, growing customer demand, and increasing operational efficiencies across its food brands.

In September 2025, Curefoods also strengthened its balance sheet by raising ₹160 crore (approximately $18 million) through a pre-IPO funding round led by 3State Ventures, the investment vehicle of Flipkart co-founder Binny Bansal.

What Does The Delay Mean For Curefoods?

While the IPO delay may postpone the company’s public market debut, it does not necessarily signal weakness in the business.

Instead, it reflects a strategic decision to wait for more favorable market conditions that could support stronger valuations and investor participation.

With a diversified brand portfolio, improving revenues, and continued investor backing, Curefoods remains one of the notable food-tech companies expected to revisit its public listing plans when market sentiment improves.