Curefoods, a leading cloud kitchen platform in India, has decided to hold off on its Rs 800 crore IPO plans due to market volatility and investor reluctance, joining the ranks of Flipkart and PhonePe in delaying public listings amid challenging conditions.
- Curefoods seeks to relist in 2027 if markets stabilize
- Mutual funds resisted company’s Rs 4,000 crore valuation
- Delay follows similar IPO postponements by Flipkart and PhonePe
What happened
This postponement comes after similar moves by major tech-backed companies Flipkart and PhonePe, both of which deferred their IPO plans over the past few months amid volatile market conditions and investor wariness toward loss-making internet firms. Curefoods cited the difficulty of obtaining an attractive valuation in the current market as a key reason for the delay.
Why it matters
Curefoods’ postponement signals cautious sentiment among Indian public market investors toward new-age consumer internet and food services companies, especially those yet to post profits. The cloud kitchen sector itself faces bleak growth prospects due to slower category expansion and increased scrutiny on profitability and sustainable business models.
The delay also highlights the pressures faced by startups relying on IPOs for growth capital during periods of market turbulence. Curefoods, which operates over 500 kitchens across 70 cities, plans to continue expanding organically and servicing debt without immediate capital infusion, reflecting a more conservative approach amid uncertain investor appetite.
What to watch next
Investors will be closely monitoring Curefoods’ performance and market conditions in the coming months as the company aims to revisit its IPO plans in 2027 if valuations align better with investor expectations. Curefoods' ability to improve profitability and demonstrate sustainable growth will be critical to winning renewed public market confidence.
Additionally, market watchers will observe whether other loss-making startups in India’s consumer internet space follow similar paths, potentially delaying their IPOs or exploring alternative funding routes given ongoing valuation gaps and volatile trading environments.