Haldiram Snacks Food, a prominent player in India's packaged food sector, has initiated groundwork for a potential Initial Public Offering (IPO), with a target listing in late 2027. The proposed public issue is expected to have an issue size of around ₹10,000 crore, potentially valuing the company at over ₹1 lakh crore upon its market debut, according to recent reports.
The company has engaged EY to oversee and coordinate the complex listing process. This strategic move follows the successful consolidation of Haldiram's Delhi and Nagpur businesses, creating a unified entity with a diverse portfolio of snack products. This expanded structure has also increased the complexity of preparing the company for its public listing.
IPO Preparations Underway
Sources indicate that Haldiram Snacks Food has established a dedicated project management office (PMO) to manage regulatory compliance and streamline preparations across various business functions. Internal groundwork for the IPO is anticipated to take between six to twelve months, or possibly longer, before the formal IPO process commences.
Issue Structure and Investor Interest
The proposed Haldiram IPO is likely to feature a combination of a fresh issue of shares and an offer for sale (OFS) by existing shareholders. The final allocation and structure will be determined by the company's capital requirements and the investment objectives of its current stakeholders as preparations advance.
Haldiram Snacks Food has previously attracted significant investments from global players. In early 2025, Singapore-based Temasek, Alpha Wave Global, and UAE-based International Holding Company (IHC) acquired stakes in the company. Subsequently, US-based private equity firm L Catterton also invested. These 2025 transactions valued Haldiram Snacks Food at approximately $10 billion (around ₹85,000 crore at the time), marking one of India's largest private equity deals in the consumer sector.
Growing Market Interest in Consumer Sector IPOs
Haldiram's potential IPO aligns with a broader trend of increased interest in public market listings within India's consumer sector. For instance, Coca-Cola India is also reportedly preparing to list its bottling business, Hindustan Coca-Cola Holdings, through a proposed public issue estimated at around $1 billion. Hindustan Coca-Cola Holdings recently filed its draft red herring prospectus (DRHP) with SEBI, indicating a significant step towards its own market debut.