Biscuit maker Anmol Industries files for ₹1,800 cr IPO, draft papers show
The Kolkata-based biscuit maker will see its top investor, Baijnath Choudhary & Family Trust, sell its entire stake in the IPO, with no fresh issue
 "Biscuit maker Anmol Industries files for ₹1,800 cr IPO, draft papers show")
Indian biscuit maker Anmol Industries has filed for an initial public offering worth up to ₹1,800 crore ($187.87 million), draft papers showed on Friday.
The Baijnath Choudhary & Family Trust, Anmol's top investor with a roughly 84 per cent stake, is the sole selling shareholder in the IPO. Anmol is not selling any new shares and will not receive proceeds.
Founded in 1994, Kolkata-based Anmol has a portfolio of biscuits, cookies and cakes offered through 70 brands and also exports to 31 countries.
Anmol's net profit jumped five-fold to ₹191 crore in the year ended March 31, while revenue rose 28 per cent to about ₹2,100 crore.
It competes with listed rivals such as Britannia, ITC and Mrs. Bectors Food Specialities in the world's most populous country.
The IPO filing comes as primary market activity in India picks up pace after a muted first half of the year.
Anmol had attempted to go public in 2018 through a ₹750 crore IPO and had received market regulator approval, but did not go through with the plan.
Intensive Fiscal Services, ICICI Securities and IIFL Capital Services are managing the offering.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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