Anmol Industries IPO: ₹1,800 Crore DRHP Filed — Structure, Financials & Key Details
Kolkata-based biscuits maker Anmol Industries has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering aggregating up to ₹1,800 crore. The filing, made on Friday and reported on 26 September 2026, marks the company's second attempt at going public — its earlier ₹750-crore IPO plan from 2018 was shelved after receiving SEBI's approval.
The headline detail: the entire issue is an offer for sale (OFS). No fresh shares will be issued, and the company will not receive any proceeds from the listing. See also our deep-dive on the JSW One Platforms DRHP filing, another large draft prospectus filed this season.
Anmol Industries IPO: key details
| Parameter | Detail |
|---|---|
| Company | Anmol Industries Limited |
| Issue size | Up to ₹1,800 crore |
| Issue type | Pure offer for sale (no fresh issue) |
| Selling shareholder | Baijnath Choudhary & Family Trust (promoter group) |
| Face value | ₹5 per equity share |
| Offer process | Book-building |
| Filing date (DRHP) | 25 September 2026 (reported 26 Sept) |
| BRLMs | Intensive Fiscal Services, ICICI Securities, IIFL Capital Services |
| Registrar | MUFG Intime India |
Offer structure and reservation
The issue will follow the standard book-building reservation:
- QIBs: up to 50% of the net offer
- Non-institutional bidders: at least 15%
- Retail individual investors: at least 35%
Because it is a pure OFS, every rupee raised goes to the promoter trust selling its shares — nothing flows into Anmol Industries' own coffers. Investors therefore need to evaluate the offer on valuation and business strength alone, not on any funded expansion plan.
What the company does
Anmol Industries is a regional heavyweight in India's branded foods space:
- Products: biscuits and cookies, cakes, rusks, wafers, chocolate-coated wafers, Indian sweets and other bakery products.
- Brands & SKUs: 70 brands and 188 SKUs — 159 biscuits and cookies, 21 cakes and 8 others. Flagship 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.
- Premium push: 18 new products launched in the last three financial years; Multi Grain (₹29.6 crore) and Top Royale (₹25.5 crore) were launched during this period. Family packs priced above ₹10 contributed 23.85% of product-sale revenue (₹485.5 crore) in FY26.
- Manufacturing: 7 facilities across Uttar Pradesh, Bihar, West Bengal and Odisha, with annual installed capacity of 3,60,965 tonnes (biscuits and cookies) and 16,372 MTPA (cakes) as of 31 March 2026; supported by 9 depots (a 10th added later in Sambalpur, Odisha).
- Distribution: products reach 4,266 pin codes across 24 states and 2 Union Territories, served through roughly 2.10 million retail outlets, 1,005 direct distributors, 3,533 sub-distributors and 444 super stockists. Exports to 31 countries over the last three financial years.
- Market position: per the DRHP, it is the largest regional biscuits brand (excluding national brands) by sales value in FY26, and claims to be India's fourth-largest biscuit brand and sixth-largest cake brand.
Financial performance
| Particular (₹ crore) | FY26 | FY24 |
|---|---|---|
| Revenue from operations | 2,101.8 | 1,422.8 |
| Net profit (PAT) | 190.9 | 126.2 |
Revenue grew 28% year-on-year in FY26, while profit after tax expanded sharply to about ₹191 crore. The company reported earlier that a ₹750-crore IPO was planned and cleared in 2018 but never executed — suggesting the current filing is a more mature second attempt at a larger valuation.
Listed peers for comparison
Once listed, Anmol will be benchmarked against established packaged-food players:
- Britannia Industries
- ITC
- Mrs Bectors Food Specialities
All three trade at premium consumer-goods valuations, which will set the context for how Anmol's ₹1,800-crore OFS gets priced when the red herring prospectus and price band are announced.
What happens next
A DRHP filing is only the first regulatory step. The sequence from here:
- SEBI review and observations — typically a few months.
- RHP and price band announcement after SEBI clearance.
- Subscription opening with anchor allocation a day before.
- Allotment, refunds and listing on BSE and NSE.
No IPO dates, price band or listing timeline have been announced yet. Those will be known only after SEBI clears the DRHP. For the latest subscription action on the current mainboard issues, track IPO Subscription Status Today, 26 September 2026.
Points for investors to watch
- Pure OFS: no primary capital for growth — the valuation multiple is the entire thesis.
- Regional concentration: the brand's strength is concentrated in eastern India; pan-India expansion is still a work in progress.
- Competitive intensity: Britannia, ITC and regional players compete aggressively on price and distribution.
- Input costs: wheat, sugar and edible-oil prices directly affect margins in the biscuits business.
FAQs
Is the Anmol Industries IPO open for subscription?
No. The company has only filed its DRHP with SEBI. Dates, price band and lot size will be announced later.
How much is the Anmol Industries IPO size?
Up to ₹1,800 crore, structured entirely as an offer for sale by the promoter trust.
Will the company receive any money from the IPO?
No. Since it is a pure OFS, all proceeds go to the selling shareholder, Baijnath Choudhary & Family Trust.
What does Anmol Industries do?
It manufactures biscuits, cookies, cakes, rusks, wafers and other bakery products under 70 brands, with a strong presence in eastern India and exports to 31 countries.
Conclusion
Anmol Industries' ₹1,800-crore DRHP is one of the larger consumer-goods filings of the current IPO season and a notable comeback after the shelved 2018 attempt. The business shows strong momentum — ₹2,101.8 crore revenue and ~₹191 crore profit in FY26 — but investors should note the structure: this is a promoter exit, not a growth-capital raise. The price band and valuation, once SEBI clears the draft, will decide how attractive the offer is relative to listed peers like Britannia and Mrs Bectors.