Wow! Momo Foods is weighing a ₹2.5 billion to ₹3 billion fundraise for restaurant growth in India as it expands packaged foods and explores overseas markets, Mint reported Oct. 26.
Mint said the proposed fundraise could support new outlets, working capital and repayment of some debt, with the founders potentially investing alongside new backers. Co-founder Sagar J. Daryani did not comment to Mint on the raise or IPO plans. The report put a potential listing 18 to 24 months away. In an April interview with BW Retail World, Daryani gave a 24-to-30-month horizon and said timing would depend on the company’s finances and broader market conditions.
Wow! Momo operates the Wow! Momo, Wow! China and Wow! Chicken restaurant brands. Its packaged-food business represents 12% of the company’s business and brings in about ₹10 crore a month, Mint reported. The company expects packaged foods to reach 20% of its business by the end of 2026. An April company release said the unit had passed ₹100 crore in annual recurring revenue and was growing 100% year over year. Mint put restaurant-business growth at 20% to 25%.
Daryani told Mint that food inflation was 7% to 8% and menu prices had risen about 6%. Delivery-platform commissions now account for about 10% of the company’s profit-and-loss statement, compared with roughly 1% before the pandemic, he said. Delivery represented about half of restaurant sales, up from 35% to 38% a few years earlier. Daryani said the company absorbed some cost increases. He also told Mint that same-store sales rose 14% in the first half of FY27, from April through September 2026.
Mint reported revenue of about ₹630 crore in FY25 and ₹830 crore in FY26, with a FY27 target of about ₹1,050 crore and roughly 910 outlets by the financial year’s end in March 2027. In April, company guidance reported by PTI set a ₹1,200 crore FY27 revenue goal and called for 150 to 200 new outlets. The reports do not say that the company formally revised its targets.
Mint said the packaged-food business sells in 14 countries and is looking to enter the United States, Malaysia, Australia, Thailand and Canada within 12 months of its report. The United Arab Emirates is also under consideration for restaurant expansion, Mint reported.
For Sri Lanka, Mint reported a plan to enter by the end of 2026 through a master-franchise deal with Softlogic Holdings PLC (Softlogic), with about 25 outlets planned over the first three years. Under the proposed arrangement, Softlogic would cover local outlet and production costs, while Wow! Momo would provide operating support and earn fees and royalties. Softlogic’s 2025/26 annual report, filed with the Colombo Stock Exchange, disclosed plans to introduce the brand. Softlogic Chairman and Managing Director Ashok Pathirage told Daily Mirror he expected an outlet at One Galle Face Mall around January; the report did not specify the year.
