Haldiram Targets Rs.10,000 Crore IPO in Late 2027
Haldiram Snacks Food has begun plans for an initial public offering (IPO) expected to generate approximately Rs.10,000 crore, aiming for a stock market debut in late 2027 with a valuation surpassing Rs.1 lakh crore.
According to media reports, the suggested listing process commenced with the selection of EY to oversee the project management office (PMO).
The organization has established a specialized team to manage compliance obligations and collaborate across its business units in anticipation of the public offering. Due to the extensive and varied nature of its operations, the preparatory task is anticipated to require between six and 12 months or possibly longer, according to the report.
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The suggested IPO will probably include a mix of a new share issuance and a sale offer (OFS) from current shareholders. Although the ultimate issue structure and valuation will be finalized nearer to the listing date, the suggested Rs.10,000 crore offering would position Haldiram among the major consumer-sector IPOs being organized in India.
The preparations for the IPO come after multiple investments from international private equity and institutional investors in Haldiram Snacks Food. In March-April 2025, Temasek from Singapore, International Holding Company (IHC) from the UAE, and Alpha Wave Global purchased shares in the firm. The total value of the transactions estimated the business at roughly $10 billion, equivalent to about Rs.85,000 crore.
The trio of investors obtained around 15 percent of the firm, whereas the Agarwal family, the promoters, maintained an 85 percent ownership. The investment firm L Catterton, based in the US, invested in the company in December 2025.
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The investments represented one of the biggest private equity deals in India’s consumer market during that period. The suggested public offering would create a possible liquidity option for current shareholders while enabling the company to tap into public capital markets.
Haldiram’s efforts for listing occur alongside increasing public-market engagement from major consumer firms. Coca-Cola India is independently planning to launch its bottling unit, Hindustan Coca-Cola Holdings, via a planned offering worth approximately $1 billion. Last week, the company submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi).
Haldiram's financial results will be a crucial factor as it approaches a public listing. As per a report by Crisil Ratings, Haldiram Snacks Food achieved a revenue of Rs.7,762 crore in the initial half of FY26, boasting operating margins close to 19 percent.
Crisil estimated a revenue increase of 9-10 percent for FY26, considering the early operational difficulties post-business consolidation and reduced exports resulting from US tariffs. The ratings agency anticipates the company will maintain double-digit revenue growth in the medium term, bolstered by a growing distribution network, increased exports, and innovation in products across various categories.
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Operating margins are anticipated to stay consistent, supported by cost control and operating leverage as the business expands.
The suggested IPO preparations occur after the merger of Delhi's Haldiram Snacks and Nagpur's Haldiram Foods International into Haldiram Snacks Food.
The merger integrated the two companies into a single corporate framework, establishing the foundation for the organization’s upcoming growth phase and future public-market participation.
With an intended issue size of Rs.10,000 crore and a targeted valuation exceeding Rs.1 lakh crore, the listing will subject the company’s financial performance, shareholder composition, and growth strategy to increased examination from public markets.