Manohar Lal Agrawal, Chairman of popular snack brand Haldiram's, has revealed that the company is expected to enter public markets soon and the launch of an initial public offer (IPO) is being planned in the next two-three years.
In an exclusive interview with CNBC-TV18, Agarwal briefly discussed about Haldiram's expansion plans, price hike, and a potential entry into Dalal street.
''Due to soaring inflation, almost everything is costlier - from transportation and fuel to raw materials. The cost of edible oil is almost double now, but we have managed to hike prices only by 10-20 percent,'' said Agarwal.
The Chairman added that given the way inflation is soaring, the company will have to increase prices further as there is no other alternative.
The 80-year-old snack brand - which started as a small snack shop in Bikaner - has now become a billion-dollar entity. On the company's expansion plans, Agarwal noted that Haldiram's fast-moving consumer goods (FMCG) products are currently in international markets.
Haldiram has more than 70 sweet and salty snacks products along with restaurants operating in Delhi and Nagpur.
''Our plan is to expand on retail front with restaurants so that customers can come and eat fresh food. We have 100 restaurants in Delhi and 30-40 in Nagpur. We plan to expand our retail outlets in India and simultaneously in global markets,'' said Agarwal.Haldiram's is currently run by third-generation brothers Shiv Kishan Agarwal, Manohar Lal and Madhusudan Agarwal.