Haldiram Snacks Food Plans ₹10,000 Crore IPO By Late 2027
Haldiram Snacks Food has reportedly begun preparations for an initial public offering (IPO) that could raise approximately ₹10,000 crore, with a stock market listing targeted for late 2027. According to The Economic Times, the packaged food company has appointed EY to oversee the preparations and is seeking a valuation exceeding ₹1 lakh crore. The proposed offering could combine a fresh issue of…
Haldiram Snacks Food is reportedly in the process of preparing for an initial public offering (IPO) that could raise up to ₹10,000 crore, with a stock market listing planned for late 2027. The Economic Times recently reported that the packaged food company has engaged EY to oversee the preparation process and is targeting a valuation of over ₹1 lakh crore.
The IPO may involve a new issue of equity shares alongside an offer for sale (OFS) by existing shareholders. Haldiram Snacks Food originated from the merger of Haldiram Snacks, based in Delhi, and Haldiram Foods International, based in Nagpur. The company has reportedly set up a project management office to handle compliance requirements and activities across its various business units.
Preparations for the IPO could span six to 12 months or more due to the company's complex organizational structure. This listing follows significant investments from global institutional investors, including Singapore's Temasek, Alpha Wave Global, and the UAE-based International Holding Company, which together acquired a 15% stake for roughly $10 billion ($85,000 crore) in March and April 2025.
The Agarwal family, the company's promoters, retained the remaining 85% stake. Additional investment was made in December 2025 by US-based investment firm L Catterton. Haldiram Snacks Food reported revenue of ₹7,762 crore in the first half of the 2025-26 financial year, with an operating margin of nearly 19%. Crisil Ratings expects double-digit revenue growth in the medium term, driven by a wider distribution network, international expansion, and new product launches.
Cost management and economies of scale are also anticipated to bolster operating margins. The proposed IPO aligns with a growing trend of public listings among India's consumer businesses, with Hindustan Coca-Cola Holdings, Coca-Cola India's bottling division, also reportedly planning a $1 billion public offering. However, Haldiram's listing plans are contingent on further preparations and regulatory approvals.
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