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McDonald's and KFC Supplier HyFun Plans Rs 2,000-Crore IPO Amid Frozen-Food Surge
M
Moneycontrol•06-10-2026, 08:09
McDonald's and KFC Supplier HyFun Plans Rs 2,000-Crore IPO Amid Frozen-Food Surge
- •HyFun Foods plans to raise up to 20 billion rupees in an IPO by late 2028 to fund expansion and meet surging domestic demand.
- •Preparations for the initial public offering, consisting largely of new shares, are expected to begin in mid-2027.
- •Frozen foods are gaining massive popularity in India due to shifting consumer habits and the rapid growth of quick-commerce platforms.
- •While exports currently make up about three-fourths of HyFun's revenue, the company expects domestic sales to account for half within five years.
- •HyFun anticipates its revenue to more than double to nearly 35 billion rupees by fiscal year 2028, supported by strong restaurant and retail growth.
Key Questions Answered
HyFun Foods plans to raise up to 20 billion rupees ($207.7 million) through an initial public offering by late 2028, with preparations expected to begin in mid-2027.
Frozen-food demand in India is surging as consumers seek convenience amid a quick-commerce boom, moving away from traditional freshly cooked meals toward ready-to-eat and frozen items.
HyFun supplies frozen potato products to major global restaurant chains like McDonald's and KFC, as well as Indian coffee chain Blue Tokai, PVR Cinemas, and Wow Chicken.
