Curefoods, Milky Mist get SEBI nod for IPOs
Curefoods and Milky Mist just got the green light from SEBI to go public.
Curefoods is looking to raise ₹800 crore through a mix of new shares and selling existing ones held by investors like Iron Pillar and Accel India.
Milky Mist is aiming even higher, targeting up to ₹2,035 crore—mostly from fresh shares, with promoters selling ₹250 crore worth.
Financials of the 2 companies
Curefoods runs cloud kitchens—think delivery-only restaurants—and plans to use the IPO money for expansion, paying off debt, and marketing. They pulled in ₹746 crore revenue in FY25 (up 27.5% year-on-year), but still posted a loss of ₹170 crore.
Milky Mist makes popular dairy products like cheese and paneer. Their revenue jumped nearly 29% in FY25 to ₹2,349 crore, with profits more than doubling from last year to ₹46 crore.
What's happening in the IPO market?
Curefoods has already raised over $200 million so far—including a pre-IPO investment from Binny Bansal's 3State Ventures.
For Milky Mist's IPO, JM Financial, Axis Capital, and IIFL Capital are handling things; promoters are selling some shares but will keep a big stake after listing.