Momo Foods to raise ₹250-300cr for India expansion, eyes IPO
Wow! Momo Foods, the popular Kolkata-based fast-food chain, is gearing up to raise ₹250 to ₹300 crore to open more outlets across India and get ready for a potential IPO in the next 18 to 24 months.
It is also setting its sights overseas, starting with Sri Lanka by late 2026 through a partnership with Softlogic Corp. and considering the UAE as the next market under consideration, with the US and China as longer-term targets by FY30.
Momo Foods targets 860-910 outlets
The brand wants to grow its outlets from 860 to 910 by FY27.
Its packaged foods (which make up 12% of revenue) are aiming to expand into the US and Canada over the next 12 months.
Even after a 6% menu price hike due to rising costs, it pulled off an impressive 14% same-store sales growth in early FY27.
Its international business, combining restaurant operations and FMCG exports, is expected to exceed ₹100-120 crore in revenue in two to three years.