Binod Chaudhary's CG Foods India Gears Up for Indian Stock Exchange Debut, Aims for 2026 Listing

Binod Chaudhary, a renowned Nepalese billionaire, renowned for his success in the instant noodle market, is reportedly considering an initial public offering (IPO) in India for Chaudhary Group's food division by 2026. The conglomerate's Indian subsidiary, CG Foods India Pvt., headquartered in Gurgaon, is recognized for its popular Wai Wai brand of noodles, competing with leading market players like Maggi from Nestle Ltd. and ITC Ltd.'s Yippee.

In an interview, Manvendra Shukla, the global chief executive officer at CG Foods India Pvt., disclosed plans for a potential IPO, indicating readiness within the next two years. Shukla highlighted strategies involving product diversification and the acquisition of smaller firms in the noodle industry as precursors to the IPO process. However, specific details regarding the listing were not divulged at this stage.

While CG Foods India commands a substantial 28% share in the local instant noodles market and boasts an annual revenue of 8 billion rupees ($96.2 million), discussions regarding the IPO remain preliminary, as emphasized by Shukla. The company aims for a 15% revenue growth this year.

The proposed IPO for CG Foods India aligns with a trend observed in the Indian food industry, characterized by recent public offerings from entities such as Gopal Snacks Ltd. and Mukka Proteins Ltd. Bloomberg News data reveals a surge in IPO activity within the sector, attributed to investor interest fueled by India's stable political environment and robust economic growth.

Despite the IPO aspirations, CG Foods India prioritizes consolidating its market position and expanding its product range before proceeding with the listing. Shukla emphasized the company's intent to acquire smaller enterprises specializing in seasonings, dips, or ketchups, as part of its growth strategy.

Chaudhary Group's journey began four decades ago with the launch of the iconic Wai Wai noodle in Kathmandu, Nepal, evolving into India's third-largest noodle brand. Notably, Wai Wai's distinctive pre-seasoned noodle variant, offering a convenient snack option without requiring cooking, has contributed significantly to its popularity and market presence.