Anmol Industries Files DRHP for ₹1,800 Crore IPO Through Complete Offer for Sale

Kolkata-headquartered biscuit and bakery products manufacturer Anmol Industries has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise up to ₹1,800 crore ($187.87 million) through an initial public offering (IPO).

The proposed market debut consists entirely of an Offer for Sale (OFS). As a result, the biscuit maker will not receive any proceeds from the transaction, with the funds accruing directly to the selling shareholder.

Issue Structure and Selling Shareholder

The public issue is structured solely to provide an exit and liquidity to the promoter group:

• Offer for Sale: Up to ₹1,800 crore.
• Fresh Issue: Nil.
• Sole Selling Shareholder: The Baijnath Choudhary & Family Trust, which currently serves as the biscuit maker's largest investor with a holding of approximately 84%.
• Lead Managers: Intensive Fiscal Services, ICICI Securities, and IIFL Capital Services are acting as the book-running lead managers for the issue.

This filing marks a return to Dalal Street for Anmol Industries, which had previously received regulatory clearance for a smaller ₹750 crore public issue back in 2018 before letting the approval lapse due to prevailing market conditions.

Financial Performance and Business Footprint

Founded in 1994 under the leadership of Baijnath Choudhary, Anmol Industries has grown into one of the key regional packaged food players in Northern and Eastern India. The company manufactures and markets a diverse assortment of biscuits, cookies, and cakes under roughly 70 distinct brands, catering to both value and mid-tier consumer segments. Alongside domestic reach, the brand exports to 31 overseas markets.

The DRHP revealed a substantial improvement in the company's financial metrics:

• Net Profit: Surged five-fold to ₹191 crore for the fiscal year ended March 31, up from ₹38 crore in the preceding financial year.
• Revenue: Rose 28% year-on-year to approximately ₹2,100 crore.

Competitive Landscape and Market Context

The draft filing coincides with renewed vitality in India’s primary market, where consumer and FMCG companies are seeking valuations following a cautious phase in early 2026.

Upon listing, Anmol Industries will benchmark against prominent listed peers in the Indian branded food and confectionery domain, including Britannia Industries, ITC Limited, and Mrs. Bectors Food Specialities. For retail and institutional investors, the issue provides another pure-play consumer goods candidate, though market participants will closely evaluate the absence of primary growth capital alongside the pricing of the promoter share sale.

Tags: Anmol Industries SEBI IPO FMCG Britannia Industries BSE