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The Cremica Group, a widely diversified food products company, is planning to launch an initial public offer (IPO) in 2012.
“The company operations are doing quite well. We are looking forward to an IPO in 2012,” Ludhiana-based Cremica Managing Director Mr Akshay Bector told PTI in an interview.
“The time is ripe to launch an IPO as the company’s turnover is expected to cross Rs 700 crore this fiscal”, he said, adding that the turnover of Rs 700-1,000 crore is of a fairly good size to go in for an IPO.
The Cremica Group, which makes wide-range of products like biscuits, ketchups, toppings, breads and buns, and ice creams, wants to hit the capital market to raise funds through an IPO for expansion of its business activities.
“There is scope for further growth. There are plans to expand in the ready-to-eat market in the country,” Mr Bector said.
While biscuits continue to be the biggest contributor to the top line, Cremica plans expansion in the ready-to-eat foods, snacks and liquid condiments section.
At present, Cremica’s products largely mark their presence in North India. The company hopes to spread its wings in other parts of the country, he added.
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