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Biscuit maker Anmol revives $200 Million fundraise to fuel national expansion
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Thursday, 13 November, 2025, 13 : 00 PM [IST]
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Our Bureau, New Delhi
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Kolkata-based biscuit and bakery player Anmol Industries Ltd (AIL) has revived its plans to raise fresh capital, signalling its intent to scale up beyond its current strongholds in northern and eastern India.
According to insiders, the company has appointed consulting firm PwC to assist in scouting for investors as it explores a minority stake sale. The promoters are targeting a dilution of roughly 20–25 % to raise US$150-200 million, valuing the business at about US$900 million to US$1 billion.
For Anmol, this would be its first institutional round of funding, a notable shift for a largely family-owned business to tap external capital. The funds are expected to support the firm’s growth ambitions including geographic expansion, capacity enhancement and professionalising operations.
Anmol today operates eight manufacturing sites across northern and eastern states, with a combined capacity of about 366,092 metric tonnes per annum following a new plant in Bihar. The company’s FY24 operating income stood at approximately Rs 1,524.9 crore, down from Rs 1,699.5 crore in the prior year; net profit in FY24 was around Rs 122.1 crore, slightly lower than the Rs 126.6 crore in FY23.
Industry watchers say the Indian biscuit and bakery market remains favourable: with rising urbanisation, changing lifestyles and low per-capita consumption, the sector offers growth potential. However, AIL still faces challenges: a heavy dependence on eastern India (which contributed about 67-69 % of revenue over recent years), and stiff pricing competition from dominant players like Britannia Industries Ltd, Parle Products Pvt. Ltd. and ITC Ltd.
By raising external capital, Anmol is betting on breaking the geographic concentration, expanding into western and southern regions, and perhaps positioning itself for a public listing in the next three to five years as part of its evolution.
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