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

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.