Haldiram, a leading name in India’s snacks and sweets sector, has initiated board-level discussions to finalise the size and timing of its proposed initial public offering (IPO), according to reports. The company is targeting a public issue between ₹4,000 crore and ₹5,000 crore in FY26, positioning it as one of the largest FMCG IPOs in India.
IPO Plans and Valuation
The IPO is expected to include both fresh issue and offer-for-sale (OFS) components. The fresh issue proceeds will fund manufacturing expansion, automation, and retail growth, while the OFS will provide exit options for certain promoter group members.
Reports suggest that Haldiram is targeting a valuation of $8–10 billion (approximately ₹66,000–₹83,000 crore), reflecting investor appetite for established FMCG brands with robust growth and operational scale.
Corporate Restructuring for IPO Readiness
In June 2025, Haldiram completed the merger of its Nagpur, Delhi, and Bikaner operations into a single entity, Haldiram Snacks Food Pvt Ltd, streamlining governance, revenue, tax, and operations under one structure—a critical step towards IPO readiness.
Earlier, in 2024, the company restructured its international export arm in Dubai, enhancing global logistics, operational efficiency, and product margins, underscoring its commitment to international FMCG standards.
Financial and Operational Snapshot
- Revenue (FY24): ₹12,800 crore (up from ₹12,000 crore in FY23)
- Net Profit: ₹1,400 crore
- EBITDA: ₹2,580 crore
- Retail Outlets: Over 100 nationwide
- Exports: 10% of revenue, highlighting global reach
From Bikaneri Bhujia to Global FMCG Force
Founded in 1937 in Bikaner, Haldiram evolved from a small sweet shop to a pan-India snacks powerhouse by the 1990s and expanded internationally by 2015. The upcoming IPO could make Haldiram India’s first major heritage FMCG company to go public, blending tradition with modern financial markets.
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