Biscuit Maker Anmol Industries Files ₹1,800 Crore IPO, Draft Papers Show

Anmol Industries Seeks ₹1,800 Crore Through IPO as Market Activity Rebounds

The biscuit maker’s IPO filing signals renewed investor interest in the Indian primary market.

Anmol’s Business Overview

Founded in 1994 and based in Kolkata, Anmol Industries has established itself as a key player in the biscuit, cookie, and cake segments, boasting a diverse portfolio of around 70 brands. The company has expanded its reach beyond domestic markets, exporting its products to 31 countries. This international presence not only diversifies its revenue streams but also positions Anmol as a competitive player against established rivals such as Britannia, ITC, and Mrs. Bectors Food Specialities.

Financial Performance Highlights

Anmol Industries has reported impressive financial growth, with net profit soaring five-fold to ₹191 crore for the fiscal year ending March 31. Revenue also saw a significant increase, rising 28% to approximately ₹2,100 crore. This robust performance underscores the company’s ability to capitalize on the growing demand for baked goods in India, particularly as consumer preferences shift towards packaged snacks.

IPO Details and Market Context

The ₹1,800 crore IPO will be solely a secondary offering, with the Baijnath Choudhary & Family Trust, which holds an 84% stake in Anmol, acting as the sole selling shareholder. Notably, Anmol will not issue any new shares, meaning it will not receive any proceeds from the IPO. This approach is indicative of a trend where existing shareholders seek liquidity in a recovering market.

Anmol’s IPO filing comes at a time when the Indian primary market is witnessing a resurgence after a sluggish first half of the year. The company had previously attempted to go public in 2018 with a ₹750 crore IPO, which received regulatory approval but was ultimately shelved. With the current market dynamics favoring IPOs, Anmol’s timing appears strategic.

Management and Underwriters

The IPO will be managed by Intensive Fiscal Services, ICICI Securities, and IIFL Capital Services, all of which bring significant experience in handling public offerings. Their involvement is expected to enhance the credibility of the offering and attract potential investors.

Key Highlights

• Anmol Industries files for a ₹1,800 crore IPO, focusing on secondary share sales.
• The company reported a five-fold increase in net profit to ₹191 crore.
• Revenue rose by 28% to approximately ₹2,100 crore.
• Anmol competes with major players like Britannia and ITC in the Indian market.
• The IPO comes as primary market activity in India picks up after a slow start to the year.

Investor Note: The upcoming IPO of Anmol Industries presents an intriguing opportunity for investors, particularly given the company’s strong financial performance and established market presence. However, potential investors should consider the lack of new capital being raised and the competitive landscape before making investment decisions.