Indian cloud kitchen operator postpones Rs8bn listing despite SEBI approval as startups pause public offerings.
Curefoods has postponed its Rs8bn ($83.9m) initial public offering, citing volatile market conditions. The company had secured regulatory clearance from SEBI but opted for a cautious approach amid broader startup delays in India.
The IPO, filed in June 2025, included a Rs8bn fresh issue and an offer-for-sale of 48.5 million shares by existing investors, including Accel India V and Alteria Capital. Revenue rose to Rs7.45bn in FY25 from Rs5.85bn in FY24, while losses narrowed slightly to Rs1.7bn.
The delay reflects a trend among Indian startups, with firms like Flipkart and PhonePe also pausing listing plans. Curefoods operates brands such as CakeZone and Krispy Kreme under its cloud kitchen model.