Curefoods Sets Sights on Tier-2 Cities as IPO Approaches

Curefoods, a prominent multi-brand food services firm, is gearing up for its IPO with a strategic shift towards Tier-2 cities, a move outlined in its draft papers submitted to the Securities and Exchange Board of India (Sebi). The Bengaluru-based company, founded in 2020, celebrates five years this Monday, marking it as a springboard for expansion beyond metro areas.

Aiming to tap the potential of Tier-2 markets, driven by increasing disposable incomes and digital payment adoption, Curefoods plans to deepen its presence in these regions. The company announced intentions to bolster its offline capabilities by leveraging its support infrastructure. According to Redseer Research, the food services market in India is poised to grow significantly, with numbers expected to reach up to Rs 12.6 lakh crore by 2030, emphasizing the shift from affordability to branded dining in Tier-2 locations.

Curefoods, which has shown remarkable growth amidst a fragmented market, reported operating revenues of Rs 746 crore for FY2025, marking a 27.46% increase from the previous year. The firm aims to expand further through kiosks, dine-in restaurants, and shop-in-shop setups while maintaining consistency with company-wide SOPs and integrated technology. The IPO consists of a fresh issue of shares and offers for sale, with funds earmarked for expanding cloud kitchens and reducing debt.