This biscuit maker has filed for ₹1,800cr IPO in India
What's the story
Anmol Industries, a leading Indian biscuit manufacturer, has filed for an initial public offering (IPO) worth up to ₹1,800 crore ($187.87 million). The company's draft papers were shown on Friday. Anmol Industries is largely owned by the Baijnath Choudhary & Family Trust which holds an 84% stake in the company.
History
Previous IPO attempt in 2018
The Baijnath Choudhary & Family Trust is the sole selling shareholder in Anmol Industries's IPO.
It's important to note that Anmol isn't issuing any new shares and won't be getting any money from this move.
The company had previously attempted an IPO in 2018 through a ₹750 crore offering but did not go ahead with it despite receiving the market regulator's approval.
Business performance
Competing with Britannia, ITC
Founded in 1994, Kolkata-based Anmol Industries has seen impressive growth with a five-fold jump in net profit to ₹1.91 billion for the year ending March 31.
The company's revenue also grew by 28% to about ₹21 billion during this period.
Anmol competes with listed players such as Britannia, ITC, and Mrs. Bectors Food Specialities in India's competitive biscuit market.
Product range
Wide range of products and international presence
Anmol Industries offers a wide range of biscuits, cookies, and cakes under 70 different brands. The company also exports its products to 31 countries around the world. This global presence highlights Anmol's strong position in the Indian biscuit market as well as its international reach.