Parle Products eyes $1 billion IPO at over $10.5 billion valuation

MUMBAI: The company that has long filled biscuit jars could soon be filling investor portfolios. Parle Products, the maker of household brands including Parle-G, Monaco, KrackJack, Hide & Seek, Melody and Mango Bite, is reportedly laying the groundwork for a $1 billion-plus initial public offering (IPO) that could value the company at more than $10.5 billion (over Rs 1 lakh crore).

According to a Moneycontrol report citing multiple industry sources, the Mumbai-based FMCG giant has begun preliminary preparations for a public listing that could take place next year. If it proceeds, the proposed issue estimated to exceed $1 billion (around Rs 9,530 crore) would rank among the largest IPOs in India’s consumer goods sector.

As part of the process, Parle Products has reportedly appointed Kotak Mahindra Capital, Axis Capital and HSBC Securities as advisers for the proposed public issue. The report added that the company is also in discussions to appoint a fourth investment bank to the syndicate.

Sources told Moneycontrol that the company is targeting a valuation of more than $10.5 billion, although the final issue size, valuation and structure will depend on market conditions and investor appetite closer to the launch.

Responding to speculation, Mayank Shah, Chief Marketing Officer at Parle Products, stopped short of confirming the IPO plans, saying the company regularly evaluates opportunities that support its long-term growth.

“We do not comment on market speculation. Currently, we are focused on running and growing the business. Like any company of our scale, we keep assessing options that enable our growth,” Shah told Moneycontrol.

Founded in 1929, Parle Products remains one of India’s largest privately held FMCG companies. Promoted by the Chauhan family, it operates independently from Parle Agro, the beverage company behind brands such as Frooti, Appy Fizz and Bailley.

The latest development follows earlier reports that the company had initiated discussions with investment banks over a possible public listing. At the time, sources indicated the transaction could include a secondary share sale, allowing existing shareholders to partially monetise their holdings.

A successful listing would mark a significant milestone for one of India’s most recognised consumer brands and place Parle Products alongside listed rival Britannia Industries, giving investors a rare opportunity to compare the country’s two biscuit heavyweights on the public markets.