Haldiram Snacks Food plans Rs 10,000-crore IPO in 2027: Report

Haldiram Snacks Food has begun groundwork for a potential initial public offering (IPO), with the company appointing EY to coordinate the proposed listing process, according to a media report.

The packaged-food maker is exploring a stock market debut in late 2027, which could involve an issue size of around Rs 10,000 crore and a potential valuation exceeding Rs 1 lakh crore.

The IPO preparations come after the consolidation of the Delhi and Nagpur businesses under Haldiram Snacks Food, creating a unified entity with a diversified packaged-food portfolio. The expanded business structure has also increased the complexity of preparing the company for a public listing.

According to a report by The Economic Times, the company has established a project management office (PMO) to oversee regulatory compliance and coordinate preparations across different business functions.

An executive familiar with the development said the internal groundwork could take six to 12 months or longer before the company moves towards a formal IPO process.

Fresh issue and OFS

The proposed IPO could comprise a combination of a fresh issue of shares and an offer for sale (OFS) by existing shareholders.

The final structure and allocation between the two components will depend on the company's capital requirements and the investment objectives of its existing shareholders as preparations advance.

Temasek, Alpha Wave and IHC among investors

Haldiram Snacks Food has attracted investments from several prominent global investors.

Singapore-based Temasek, Alpha Wave Global and UAE-based International Holding Company (IHC) acquired stakes in the company during March-April 2025. Subsequently, US-based private equity firm L Catterton also invested in the business.

The 2025 investment transactions valued Haldiram Snacks Food at approximately $10 billion, equivalent to around Rs 85,000 crore at the time. The deal was among the largest private equity investments in India's consumer sector.

Coca-Cola India also prepares for public listing

Haldiram's potential IPO plans come at a time when India's consumer sector is witnessing increased interest in public-market listings.

Coca-Cola India is also preparing to list its bottling business, Hindustan Coca-Cola Holdings, through a proposed public issue estimated at around $1 billion.

The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) last week, marking a key step towards its proposed stock market debut.