Haldiram family eyeing IPO in coming 18 months
Following the emotional request debut of Bikaji Foods, rival snacks behemoth Haldiram’s is eyeing an original public immolation (IPO) in the coming 18 months, CNBC TV- 18 reported, citing sources, on November 18. In the run- up to the IPO, the Haldiram family is planning to combine their Delhi and Nagpur- grounded businesses to produce a combined consolidated reality, the persons who are privy to the development told the news channel.
The two sides have initiated reflections for the junction process, which is likely to complete within a time, the sources said, adding that they’ve also approached bankers for the same. The possessors of both- Bikaji and Haldiram’s- are four sisters who had parted ways in 1980 to head their separate business realities. Their forefather Ganga Bishan Agarwal had innovated the original Haldiram snacks company in 1982.
The oldest family, Shiv Kishan Agarwal, runs the Nagpur- grounded Haldiram Snacks which has dominant control over the west and south India request. The Delhi- grounded reality- Haldiram Foods Internationals is operated by sisters Manohar and Madhusudan Agarwal. The fourth family, Shiv Ratan Agarwal, leads Bikaji, whose recent IPO entered a robust response from investors. The issue entered flings for 55.04 crore shares against the IPO size of 2.06 crore shares. The offer was overall subscribed 26.67 times on November 7, the final day of bidding.
The implicit Haldiram’s IPO will be keenly watched, as both the Haldiram realities hold a accretive share of 48.5 percent in the Indian ethnical snacks request, according to a recent check conducted by Frost & Sullivan. The combined profit of both the Haldiram realities added up to Rs9,000 crore in the financial time 2021- 22, which is significantly advanced as compared to a profit of Rs1,600 crore clocked by Bikaji during the same period.
About Haldiram
Over the course of eight decades, a lot has changed about us. We have relocated, undergone expansion, developed new product lines & added segments, opened retail chains & stores across India and embraced new markets overseas. One thing hasn’t changed – we’re still a tight-knit family business, committed to serving the most authentic taste of India through our products.
Our origins can be traced back to a small namkeen shop in Bikaner founded by Ganga Bishan Agarwal (Haldiram Ji). This modest shop quickly gained popularity and scaled up to meet a booming demand for its unique-tasting bhujia. Building on this legacy, his grandson, our pioneer Mr. Shiv Kishan Agrawal steered the business towards the heights it has tasted today.
Determined to take bhujia beyond the boundaries of Bikaner, he shifted base to Nagpur in 1970. We opened our first full-production unit to introduce a delectable variety of savouries, sweets and beverages to the market. The success of this venture led us to expand and evolve as a brand that is an integral part of every Indian household.
From our formative years, he instilled the value of keeping the tradition and quality intact, even as we matured as a company. All our products maintain a consistent sense of simplicity. The ingredients and recipes were picked to accentuate these ideas and are followed to this date. We promise that all our products are natural, wholesome and have a homemade feel to them.
Although, Haldiram’s is about more than just food. By creating a strong sense of community and supporting our associates, we continue to feel like a true family business. We carry these values with us as we operate together to serve generations of happy connoisseurs across the globe and continue to be the nation’s beloved snack-food company. As the age old saying goes, “The way to one’s heart courses through their stomach”. We want to leave no stone unturned to win your hearts.