July 20, 2024, Saturday

Waiwai is a battle of taste, this is why billionaire Chaudhary is entering the Indian stock market

Waiwai is a battle of taste, this is why billionaire Chaudhary is entering the Indian stock market

Nepali billionaire Vinod Chaudhary originally got rich by selling noodles. Now he is looking to list the India-based food business of Chaudhary Group on the stock market by 2026. The company based in Gurgaon, India, which has gained fame for its Waiwai brand noodles, is competing in the market with Nestle Ltd.’s Maggi and ITC Ltd.’s Yippie. The company will be ready to be listed in the next 2 years.

Meanwhile, Manvendra Shukla, Global Chief Executive Officer (CEO) of CG Foods India Pvt. He did not elaborate on this plan. The company has 28 percent market share in the Indian local market. From this, the company is earning 8 billion bharu or 96.2 million US dollars annually. According to Shukla, the listing plan is at an early stage. The company aims to increase its income by 15 percent this year.

In previous years, package food manufacturer Gopal Snacks Ltd., animal protein manufacturer Mukka Proteins Ltd. have issued IPOs. In the last 12 months, the food sector has emerged as the second largest issuer of IPOs in India.

At a time when Indian food manufacturing companies are going for Initial Public Offering (IPO), CG Foods India has also announced its IPO plan. While China’s economic growth is slowing down, India’s is growing rapidly and investors are attracted due to relative political stability.

But CG Foods is not in a hurry to list in the stock market. Before that, he has prioritized increasing market share and production. This company is also looking forward to buy other small companies.

India. Waiwai can be eaten uncooked as a snack or cooked. It contains separate small packs of spices and oil.
“We still have something unique in the market,” says Shukla. CG Foods India has 7 plants in India and units in Nepal and India have contributed 80 percent to the group’s food sales.

Four decades ago, Chaudhary Group launched Wai Wai Noodles in Kathmandu. Since then, this business has been expanding. It has become the third largest brand in I

In India, the sales of snacks and soft drinks have increased threefold in the last decade. In this case, the company is planning to increase its production.

The company has added two flavors in the last month alone. More products are coming. Shukla says, ‘This is a battle of taste.’