Biscuit maker Anmol Industries files for $188-M OFS-IPO

Kolkata-based biscuit manufacturer Anmol Industries has filed draft papers for an initial public offering to raise INR 1,800-Cr (USD 187.87 M). The offering consists solely of an offer-for-sale by the Baijnath Choudhary & Family Trust, which currently holds approximately 84% of the company. Intensive Fiscal Services, ICICI Securities, and IIFL Capital Services are managing the IPO.Founded in 1994, the company sells biscuits, cookies, and cakes sold under 70 brands and claims to maintain a presence in 31 countries. For the financial year ending March 31, Anmol Industries reported a five-fold increase in net profit to INR 191-Cr, while revenue grew 28% to approximately INR 2,100-Cr.Anmol Industries previously attempted to launch a public offering in 2018 to raise INR 750-Cr and received regulatory approval at that time, but did not proceed with the market entry.