Cloud kitchen operator Curefoods has reportedly postponed its proposed Rs 800 crore initial public offering (IPO), citing volatile market conditions and subdued investor sentiment. Despite receiving approval from the Securities and Exchange Board of India (SEBI) for its public listing, the company has decided to delay its market debut as it evaluates more favorable conditions for raising capital.
The move highlights a growing trend within India’s startup ecosystem, where several venture-backed companies are reassessing their IPO timelines and valuation expectations amid uncertainty in the equity markets. As investor appetite remains cautious, many startups have adopted a more measured approach toward public listings.
According to reports, Curefoods has chosen to follow a wait-and-watch strategy rather than proceed with its IPO under current market conditions. The decision aligns with a broader shift among technology-driven companies that are prioritizing long-term value creation over immediate public market entry.
Curefoods’ decision follows similar actions by prominent startups such as Flipkart and PhonePe, which have also reportedly delayed their listing plans while monitoring market developments and investor confidence.
Founded by Ankit Nagori, Curefoods has emerged as one of India’s leading cloud kitchen and food services platforms. The company operates a diversified portfolio of food and beverage brands across multiple categories, including healthy meals, desserts, pizza, and regional cuisine. Its brands include EatFit, CakeZone, Nomad Pizza, Frozen Bottle, Sharief Bhai, and Krispy Kreme.
Despite delaying its IPO, Curefoods continues to demonstrate operational growth. For the financial year 2025, the company reported revenue of Rs 745.8 crore, representing a significant increase from Rs 585.1 crore recorded in the previous fiscal year. Additionally, the company improved its financial performance by reducing its losses to Rs 170 crore in FY25, compared to Rs 172.6 crore in FY24.
The company also strengthened its financial position ahead of the planned public offering. In September last year, Curefoods secured Rs 160 crore (approximately $18 million) through a pre-IPO funding round. The investment attracted participation from 3State Ventures, the investment arm of Flipkart co-founder Binny Bansal, reflecting continued investor confidence in the company’s business model and growth potential.
As market volatility continues to influence fundraising and listing decisions, Curefoods appears focused on strengthening its operational metrics, improving profitability, and positioning itself for a future public offering when market conditions become more conducive.
