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Wow! Momo Foods is exploring overseas expansion and plans to strengthen its restaurant and packaged food businesses as it prepares for a potential initial public offering in the next 18 to 24 months. The Kolkata based quick service restaurant chain is looking to raise ₹250 to ₹300 crore to fund its restaurant expansion in India, while international markets offer opportunities for growth across both business segments.
The company, which operates Wow! Momo, Wow! China and Wow! Chicken, plans to enter Sri Lanka by the end of 2026 through a master franchise partnership with local entity Softlogic Corp. The partners aim to open around 25 outlets in the country over the first three years. Softlogic will finance the outlets and local production, while Wow! Momo will earn fees and royalties and provide operational support, shares co-founder Sagar J. Daryani in media reports.
The United Arab Emirates is the next market being considered for the restaurant business through a local partner. The company is also evaluating the United States and China as longer term opportunities, with entry being considered by fiscal year 2030.
Meanwhile, Wow! Momo’s packaged food arm, Wow! Momo FMCG, already sells products in 14 countries. The company plans to expand into the United States, Malaysia, Australia, Thailand and Canada over the next 12 months, Daryani said.
The FMCG business currently contributes 12% of the company’s overall business, generating around ₹10 crore per month. Its contribution is expected to increase to 20% by the end of the year. According to Daryani, the packaged food segment is also more profitable than the restaurant business.
Wow! Momo expects its international operations, combining restaurant outlets and FMCG exports, to generate more than ₹100 to ₹120 crore in revenue over the next two to three years. The FMCG business is growing at around 100% annually, albeit from a smaller base, compared with growth of 20% to 25% in the restaurant segment.
Mint has learnt that the company is planning to raise ₹250 to ₹300 crore to finance its restaurant expansion in India. The founders could participate in the proposed funding round alongside new investors.
The proceeds are expected to support new outlet openings, working capital requirements and the repayment of some debt. The company has previously indicated that it would consider a potential IPO before the end of 2028, although Daryani did not comment on the proposed fundraising or listing plans.
Wow! Momo expects to close FY27 with revenue of approximately ₹1,050 crore, supported by expansion across its restaurant and retail businesses. The company reported revenue of around ₹830 crore in FY26, compared with ₹630 crore in FY25, according to its latest available data.
The chain currently operates around 860 outlets across its three restaurant brands and expects to end FY27 with approximately 910 outlets before accelerating openings in FY28. Since its inception, the company has raised around ₹625 crore.
