Haldiram Snacks Initiates IPO Preparations, Aiming for ₹10,000 Crore Launch by 2027.

Haldiram Snacks Food has initiated the groundwork for its IPO, with Ernst & Young (EY) appointed as the project management office to oversee compliance and business coordination. The company plans to list in late 2027, targeting to raise approximately INR 10,000 crore at a valuation exceeding INR 1 lakh crore. The IPO structure is expected to include both an offer for sale and a fresh issue, although specifics of the split have not been disclosed. Haldiram’s preparation timeline indicates that it could take between six to twelve months, which places the filing period between November 2026 and May-November 2027.

The grey market sentiment surrounding Haldiram’s IPO could impact investor expectations. With the company’s recent valuation at approximately USD 10 billion, any premium added for the public listing will likely be scrutinized after its previous private equity transactions, which were valued significantly less. The latest data suggests that Haldiram’s targeted valuation is about 18% higher than its last negotiated deals, setting an ambitious profit threshold for market participants. As history shows, other snack brands like Bikaji Foods and Gopal Snacks have experienced varying degrees of listing performance, which might influence investor sentiment towards Haldiram’s IPO.

For Indian investors, Haldiram’s forthcoming IPO represents a unique opportunity in a relatively underrepresented segment of the public market. Given the robust performance of the company’s revenue and operating margins, it is positioned for potential growth. Investor enthusiasm could be tempered by the challenges faced by listed snack companies, especially in terms of profitability fluctuations and external market influences, such as tariffs. Thus, retail investors should approach the upcoming IPO with both optimism and caution, carefully weighing the company’s projected growth against the historical performance of its listed peers.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)