Anmol Industries IPO

Anmol Industries Limited IPO is a Book Building Issue of ₹1,800.00 crores, consisting entirely of an Offer for Sale.

The equity shares are proposed to be listed on NSE and BSE. Intensive Fiscal Services Private Limited is the book-running lead manager, and MUFG Intime India Private Limited is the registrar of the issue. Key details such as IPO dates, IPO price bands, and lot size are yet to be announced.

About Anmol Industries Limited

Anmol Industries Limited was originally incorporated as Bansal Biscuits Private Limited on November 19, 2009, under the Companies Act, 1956. The company subsequently changed its name to Anmol Industries Private Limited in May 2016, reflecting its business operations under the Anmol brand. Following the merger of Anmol Biscuits Limited and Anmol Bakers Private Limited pursuant to a scheme of arrangement approved by the National Company Law Tribunal in March 2017, the company was converted into a public limited company under the name Anmol Industries Limited on March 30, 2017. Headquartered in Kolkata, West Bengal, the company is primarily engaged in the manufacturing, trading, and exporting of biscuits, cakes, snacks, and other bakery products.

The company operates in India's biscuits, cookies, cakes, and bakery products industry, with a focus on the manufacture and distribution of packaged food products. Its product portfolio comprises biscuits and cookies, cakes, rusks, chocolate-coated wafers, other bakery products, and Indian traditional sweets.

As of March 31, 2026, the company offered more than 188 stock-keeping units under its umbrella brand, Anmol, catering to different consumer preferences and consumption occasions. Its portfolio includes products such as cracker biscuits, cream biscuits, cookies, Swiss rolls, bar cakes, rusks, and other packaged bakery products. The company also offers traditional sweets such as Soan Papdi, besan laddoos, and peanut chikki.

The company operates seven manufacturing facilities across four states, namely Uttar Pradesh, West Bengal, Bihar, and Odisha. These facilities are located at Dankuni and Begampur in West Bengal, Greater Noida and Ghaziabad in Uttar Pradesh, Hajipur and Thakurganj in Bihar, and Bhubaneswar in Odisha. The facilities manufacture various product categories, including biscuits, cakes, and rusks.

As of March 31, 2026, the company had an aggregate installed capacity of 3,60,965 metric tonnes per annum for biscuits and cookies and 16,372 metric tonnes per annum for cakes. The company also operates an R&D centre in Greater Noida, Uttar Pradesh.

The company's manufacturing operations are supported by technology-enabled processes and quality control systems. While most of its products are manufactured at its own facilities, it selectively outsources the manufacturing of certain products, including Soan Papdi, cream rolls, and croissants, to third-party contract manufacturers. Its distribution operations are supported by a network of nine depots across India, including four operated through carrying and forwarding agents. The depots are located in Jaipur, Lucknow, Varanasi, Silchar, Chhatrapati Sambhaji Nagar, Hubli, Vijayawada, Guwahati, and Rahimapur. The company also uses third-party transportation providers and a technology-enabled transport management platform to facilitate the movement of finished goods across its distribution network.

Anmol Industries has established an extensive distribution network comprising 444 super stockists, 1,005 distributors served directly by the company, and 3,533 sub-distributors served through super stockists, as of March 31, 2026. This network enables the company to reach approximately 2.10 million retail outlets across 4,266 pin codes in 24 states and two Union Territories in India.

The company primarily operates through general trade while also expanding its presence across modern trade, e-commerce, and quick-commerce platforms. Additionally, during the three financial years preceding the DRHP, the company exported its products to 31 countries, including the United Arab Emirates and Canada, through direct exports and merchant exporters.

Industry Outlook

• The Indian biscuits and cookies market is driven by regular tea-time and snacking habits, rising urbanization, increasing retail penetration, and changing consumer preferences.
• The organized biscuits and cookies market is led by major players such as Britannia, Parle, and ITC, which benefit from strong brand equity, extensive product portfolios, wide distribution networks, and continuous product innovation.
• The market also comprises established players such as Anmol Industries, Bisk Farm, Priyagold, Mondelez, Patanjali Foods, Mrs. Bector’s Food Specialties, Sobisco, and Unibic. Regional manufacturers and private-label brands further intensify competition, particularly in Tier II, Tier III, and rural markets.
• Biscuits and cookies consumption in India is broadly distributed across North, South, East, and West India. North leads the organized market, while South and West see strong premiumization. East is a high-growth market supported by improving distribution and rising branded-food consumption.
• The Indian biscuits and cookies market was valued at approximately ₹510 billion in FY2021 and reached ₹765 billion in FY2026, registering a CAGR of 8.5%. It is projected to grow at a CAGR of 9.6% to reach ₹1,210 billion by FY2031, driven by rising disposable incomes, urbanization, higher per-capita consumption, and product innovation.
• The Indian cakes and bakery products market grew from ₹325 billion in FY2021 to an estimated ₹641 billion in FY2026, at a CAGR of 14.5%. It is projected to reach ₹1,286 billion by FY2031, supported by packaged bakery product penetration, modern retail, e-commerce, and demand for convenient snacking options.
• The Indian traditional sweets market was valued at ₹555 billion in FY2021 and reached an estimated ₹846 billion in FY2026, growing at a CAGR of 8.8%. It is projected to reach ₹1,362 billion by FY2031, at a CAGR of 10%, supported by established consumption habits and demand for packaged traditional sweets.
• The industry is witnessing growing adoption of e-commerce and quick-commerce platforms, alongside rising demand for premium and health-focused packaged foods. However, manufacturers face challenges such as fluctuating raw material prices, changing consumer preferences, supply-chain disruptions, and competition from unorganized players.

Anmol Industries IPO Objectives

The Anmol Industries Limited IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding, and the entire IPO proceeds will go to the selling shareholders.

Financial Performance of Anmol Industries Limited