India, Oct. 25 -- Cloud-kitchen startup Curefoods has reportedly obtained the market regulator Securities and Exchange Board of India's (SEBI) approval to undertake its initial public offering (IPO).

While there has not been a public announcement, sources confirmed the development to Moneycontrol.

Curefoods' proposed IPO will comprise a fresh issue of shares worth up to INR 800 Cr ($304 Mn) and an offer for sale (OFS) of up to 4.85 Cr equity shares by existing shareholders.

The company filed its draft red herring prospectus (DRHP) in late June, following which, it raised INR 160 Cr (around $18 Mn) in pre-IPO placement from Flipkart cofounder Binny Bansal's 3State Ventures in September.

The company plans to use the IPO proceeds for exp...