Indian fast-food chain Wow Momo Foods plans to go public in two years, according to its CEO. The brand, known for its dumplings, wants to expand quickly like Domino’s Pizza has done in India, the world’s most populous country. India’s fast-food market is growing fast, with more people from low- and middle-income families eating out frequently.

Wow Momo, valued at ₹2,500 crore ($299.33 million) and with 650 stores, could be the first major Indian fast-food chain to launch an IPO (initial public offering). Backed by Tiger Global, the company reported a revenue of nearly ₹480 crore ($57.47 million) in the last fiscal year and aims to double that to ₹1,000 crore in 30 months, said co-founder and CEO Sagar Daryani in an interview to news agency Reuters.

Daryani believes that having a local fast-food chain go public will set a new trend for the industry. India’s stock market has had a record-breaking year, with many companies, including Ola Electric and telecom operator Bharti Hexacom, raising huge amounts of money.

Also Read :- Motorola launches ‘Hello Colours. Hello AI’ campaign featuring Kriti Sanon

Western fast-food brands like KFC, McDonald’s, Burger King, and Domino’s have already gone public in India. A local chain, Barbeque-Nation Hospitality, listed three years ago, and its shares have risen by 28% since then, despite challenges like fewer customers due to inflation.

Daryani hopes Wow Momo can follow the path of Jubilant FoodWorks, which grew Domino’s from one store in 1996 to over 1,800 in the country today. Wow Momo’s dumplings, priced between ₹109 and ₹369 ($1.31–$4.42), aim to reach 1,000 stores and become profitable within two years. While the company saw a slowdown in sales from October to May, things picked up again between June and September, according to Daryani.