Maker of Parle-G biscuits is planning an IPO in India
What's the story
Parle Products, the Mumbai-based company behind the iconic Parle-G biscuits, is said to be considering an initial public offering (IPO). The company has held talks with at least five investment banks, including Kotak Mahindra Bank, JM Financial, and Axis Bank. However, these discussions are still in their early stages and formal pitches are expected to begin by mid-May.
IPO strategy
Potential secondary-only offering
The proposed IPO is likely to be a secondary-only offering, meaning existing shareholders would sell their stakes instead of the company raising new capital. Notably, Parle Products is one of India's largest unlisted companies. Founded in 1929 by the Chauhan family in Mumbai, it is now run by their third-generation heirs: Vijay, Sharad and Raj Chauhan, and remains 100% promoter-owned.
Business growth
Competing with Britannia
For the fiscal year ending March 2025, Parle Products reported a total income of around ₹16,191 crore. This puts it in direct competition with Britannia Industries, which is publicly listed and posted a FY25 revenue of ₹17,943 crore. A potential listing for Parle would put India's two biggest biscuit makers on the public markets for the first time.
Market dynamics
Biscuit market growth
India's biscuit, cookies, and crackers market was worth ₹1.16 lakh crore in 2025, and is expected to grow at a CAGR of 6.8% to reach ₹1.64 lakh crore by 2030, according to the India Brand Equity Foundation. The company has a diverse product range including Monaco, KrackJack, Melody and Mango Bite. Its flagship product Parle-G was named the world's highest-selling biscuit brand in 2020 by Nielsen.