Biscuit maker Anmol Industries files ₹1,800-crore IPO; makes second attempt after 2018

Kolkata-based packaged foods maker Anmol Industries, which competes with established biscuit brands such as Britannia Industries, Parle Products and ITC Foods, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise up to ₹1,800 crore through an initial public offering (IPO).

This marks the homegrown biscuit maker’s second attempt to tap the public markets. Anmol Industries had filed IPO papers in 2018 for a ₹750-crore issue and received regulatory approval, but subsequently shelved its listing plans.

IPO to be entirely OFS

The proposed IPO will be entirely an offer for sale (OFS) of equity shares by promoter Baijnath Choudhary & Family Trust. The shares will have a face value of ₹5 each.

As per the IPO document filed with the regulator, 50% of the issue is reserved for qualified institutional buyers, while 15% and 35% are reserved for non-institutional bidders and retail individual bidders, respectively.

Incorporated in 2009, Anmol Industries is a branded packaged foods company focused on aspirational and premium product offerings. While biscuits and cookies remain its core categories, the company has been expanding into cakes, bakery products, chocolate-coated wafers and Indian sweets.

According to the F&S Report mentioned in the DRHP, Anmol was the fourth-largest biscuits brand in India by sales value in FY26 and the sixth-largest cake brand. It recorded a revenue CAGR of 21.54% between FY24 and FY26, the fastest among its listed peers, the report said.

The company traces its legacy to 1994, when a manufacturing facility was established at Dankuni under its erstwhile holding company, ABL. Over the years, it has built a strong presence in eastern India and was the third-largest player in the region’s biscuits and cookies market in FY26, with an 11% to 14% share by sales value, the report noted.

Anmol was also the second-largest organised biscuits and cookies player in Bihar, with an 18% to 20% market share, and in Odisha, with a 13% to 15% share, by sales value in FY26.

The company is also the largest regional biscuits brand, excluding national brands, by sales value in FY26, according to the F&S Report.

Revenue crosses ₹2,100 crore

Anmol Industries’ revenue from operations rose to ₹2,101.8 crore in FY26 from ₹1,422.8 crore in FY24, while net profit increased to ₹190.9 crore from ₹126.2 crore.

Its portfolio spans 70 brands and 188 SKUs, including 159 biscuits and cookies, 21 cakes and eight products across other categories. Key brands include Dream Lite, Butter Bake, Marie Plus, 2 in 1, Yummy and Mazza. Dream Lite alone generated more than ₹600 crore in revenue in FY26.

The company launched 18 new products over the last three fiscals. Multi Grain and Top Royale, launched during this period, generated ₹29.6 crore and ₹25.5 crore, respectively, in FY26. Family packs priced above ₹10 contributed 23.85% of revenue from the sale of products, or ₹485.5 crore, during the year.

Anmol’s products are available across 4,266 pin codes in 24 states and two Union Territories, reaching around 2.10 million retail outlets as of March 31, 2026. Its distribution network comprises 1,005 direct distributors and 3,533 sub-distributors served through 444 super stockists. The company also exports to 31 countries.

Its manufacturing network comprises seven facilities across Uttar Pradesh, Bihar, West Bengal and Odisha, with installed capacity of 360,965 tonnes per annum for biscuits and cookies and 16,372 tonnes for cakes. It had nine depots as of March 31, 2026, and subsequently added another in Sambalpur, Odisha.