HyFun Foods Eyes IPO and Expansion Amid Booming Frozen Foods Market

HyFun Foods anticipates a significant revenue of Rs 1,500 crore this fiscal year, buoyed by increased consumption of frozen foods domestically. A reduction in GST on processed foods is expected to boost local revenue to nearly 50%. The company aims for an IPO by 2028, revealed MD and Group CEO Haresh Karamchandani, alongside Executive Director Kamlesh Karamchandani.

In accordance with market growth projections, HyFun Foods is expanding with large manufacturing facilities and a broadening product portfolio. Karamchandanis informed PTI that once the new facility begins market supply, preparations for IPO will commence to enter the capital markets by 2028. Proceeds from the IPO will chiefly fund further expansion plans.

The company is establishing one of Asia's largest frozen French fry lines and broadening their export focus to South East Asia, the Middle East, and the Far East. HyFun Foods continues to invest in the local market, expanding cold chain infrastructure and diversifying beyond potato-based products to satisfy Indian consumer demand for variety.

(With inputs from agencies.)