French fry-maker HyFun Foods eyes IPO by 2028, aims ₹1,500 crore revenues in this fiscal: Report

Frozen potato products maker, HyFun Foods, is planning to launch an initial public offering (IPO) by 2028, and aims to hit ₹1,500 crore in revenue for the financial year 2025-26, reported the news agency PTI, citing the MD and Group CEO, Haresh Karamchandani, on Sunday, 5 October 2025.

Karamchandani highlighted how there is a rising demand for the company's products in both the domestic and international markets. With the help of the new facility, the company will target fundraising via the IPO route on the Indian stock market in 2028, according to the agency report.

What will the company use the funds?

Haresh Karamchandani, along with Executive Director Kamlesh Karamchandani, stated that the funds raised from the IPO will be reinvested in the expansion to fuel growth opportunities.

“Subsequently, we plan to continue investing in further expansion to capitalise on the growth potential,” they told the news agency.

The company is also reportedly setting up a large capacity frozen French fry line, a frozen potato speciality line for which they aim to invest ₹1,000 crore in 2025.

“We are almost investing around ₹1,000 crore this year,” they told the news agency.

Future Outlook

HyFun Foods expects a “good uptake” in the consumption of frozen foods in the Indian market due to the reduction in the goods and services tax (GST) on processed foods.

According to the agency report, the firm is focusing on expansion plans as it invests in large manufacturing facilities to widen its product portfolio.

“So, overall, this year we will be doing around ₹1,500 crores of sales,” they said, reported the news agency. The company also emphasised that it will focus on the Southeast Asia, Middle East, and Far East markets for exports.

“We primarily focus on South East Asia, the Middle East, Far East, and because these countries were, you know, earlier importing from Europe and US, now India is emerging as an alternative supplier,” Karamchandanis told the news agency.

They also highlighted that convenience is a big factor driving the growth of frozen foods in the domestic market.

“We are not limiting ourselves to potato-based products, but also a lot of other products, because Indian consumers need a lot of variety. So, overall, we are looking at the opportunity, we want to tap the opportunity which India has to offer,” they said.

However, the firm also stated that it does not have any plans to establish offshore manufacturing facilities for HyFun Foods.