Haldiram brothers to merge operations ahead of market debut: Report

Days after Bikaji made a decent market debut, another snacking major is on the verge of getting listed on stock markets and is making preparations towards that, said a report on Friday.

A CNBC TV-18 report said the three brothers who run Haldiram’s in Delhi and Nagpur have decided to merge their operations to create one snacking major.

"The merger is part of a plan to file for an initial public offering (IPO) in a bid to debut on Dalal Street in the next 18 months, as per people in the know," stated the report.

Haldiram's history goes back to the 1930s when Gangabishan Agarwal founded the snack company. Six decades later, his grandson, Shiv Ratan Agarwal, branched out to start his brand called Bikaji in 1993.

Bikaji has established market leadership in its core markets of Rajasthan, Assam and Bihar.

Also read: 'No truth to this claim': Adani Group refutes report of opening family office overseas

Also read: Food delivery firm Zomato's co-founder Mohit Gupta resigns