Wow! Momo IPO Upcoming

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To be announced
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About Wow! Momo

Founded in 2008 by Sagar Daryani, Binod Kumar Homagai, and Shah Miftaur Rahman, Wow! Momo is a Kolkata-based quick-service restaurant (QSR) chain known for its speciality in momos and related food offerings. The company operates over 630 outlets across more than 35 cities in India, with a portfolio that includes Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. While its core business has been built around the QSR model, Wow! Momo has also ventured into the FMCG sector, focusing on frozen foods and ready-to-eat products.

Financials of Wow! Momo

Wow! Momo Valuation

Wow! Momo is currently in the process of raising a bridge round of ₹150 crores ($15-17 million) from a combination of existing investors and high-net-worth individuals. Notable investors include Khazanah Nasional, the Malaysian sovereign fund, and Kamal Agarwal, owner of Haldiram’s Nagpur. This bridge round is expected to be followed by a larger funding round in the second half of 2025, aiming to raise between $80-$100 million. These rounds are intended to help the company prepare for an eventual Initial Public Offering (IPO), which is likely to take place in 2028 or 2029.

Operations and Performance of Wow! Momo

For the financial year 2024 (FY24), Wow! Momo reported operating revenue of ₹470 crores, showing a 13.83% increase from the previous year. However, the company posted a flat net loss of ₹114.4 crores. Despite this, Wow! Momo’s expansion plans are underway, with 250 new stores expected to open in the upcoming year. This expansion is expected to support the company’s target revenue of ₹900 crores for the next fiscal year. The company is also making steady progress in its FMCG business, which includes frozen momos, cup noodles, and other ready-to-eat products. The Horeca (Hotel, Restaurant, and Catering) segment is another area of growth, with Wow! Momo supplying its products to various hotels and brands like Zepto.

Future Plans 

Wow! Momo is focused on continuing its expansion, both in terms of retail outlets and its FMCG product offerings. The company plans to open 200-250 additional stores within the next 12-14 months. Its revenue target for the next fiscal year is ₹900 crores, with longer-term goals including reaching ₹1,100-1,200 crores by the time of its IPO, expected around 2028-2029. The company is also working on expanding its FMCG product range, including launching sauces and spices. Although the company has ambitious growth plans, it continues to focus on managing costs and improving financial efficiency as it works towards achieving sustainable profitability.

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