Anmol Industries returns with Rs 1,800-crore IPO after 2018 attempt; profit jumps five-fold

According to fresh market updates, Indian biscuit maker Anmol Industries has filed for an initial public offering worth up to 18 billion indian indian rupee terms ($187.87 million), draft papers revealed on Friday.

• The Baijnath Choudhary & Family Trust, Anmol's top investor with a roughly 84% stake, is the sole selling shareholder in the IPO. Anmol is not selling any new shares and will not receive proceeds.

• Founded in 1994, Kolkata-based Anmol has a portfolio of biscuits, cookies and cakes offered through 70 brands and additionally exports to 31 countries.

• Anmol's net earnings jumped five-fold to 1.91 billion indian indian rupee terms in the year ended March 31, while topline rose 28% to around 21 billion indian indian rupee terms.

• It competes with listed rivals such as Britannia, ITC and Mrs. Bectors Food Specialities in the world's most populous country.

• The IPO filing comes as primary market activity in India picks up pace after a muted first half of the year.

• Anmol had attempted to go public in 2018 through a 7.5 billion indian rupee IPO and had received market regulator approval, but did not go through with the plan.

• Intensive Fiscal Services, ICICI Securities and IIFL Capital Services are managing the offering.