Popular snack food brand Haldiram’s is expected to launch its initial public offering (IPO) within the next two to three years, Chairman Manohar Lal Agrawal announced.
In an interview with CNBC-TV18, Agarwal spoke about Haldiram’s expansion plans and a possible entry into Dalal Street.
He added that the company has to keep raising prices due to inflation as there is no other alternative.
“Because of rising inflation, almost everything is more expensive – from transport and fuel to raw materials. The cost of cooking oil is almost double now, but we managed to increase prices by only 10 to 20 percent,” Agarwal said .
80-year-old snack brand Haldiram, which started out as a small snack shop in Bikaner, has grown into a billion-dollar company.
Haldiram is currently run by third generation brothers Shiv Kishan Agarwal, Manohar Lal and Madhusudan Agarwal.
Haldiram’s has over 70 sweet and salty snack products and even restaurants in Delhi and Nagpur.
“Our plan is to expand retail with restaurants so customers can come and eat fresh food. We have 100 restaurants in Delhi and 30 to 40 in Nagpur. We plan to expand our retail operations in India and at the same time in global markets,” said Agarwal.
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