Mad Over Donuts launches part stake sale to fuel growth amid dessert M&A wave

Himesh Foods-run gourmet chain Mad Over Donuts, with 150+ stores, has kicked off a partial stake sale to raise growth capital. The move follows a flurry of dessert-segment deals including Belgian Waffle and Theobroma, with valuations in the segment recently touching Rs 1,700-2,400 crore.

— FiledFri, 19 Jun, 2026, 18:49 IST·First seen Fri, 19 Jun, 2026, 18:48 IST·Source Moneycontrol · News Web

What happened

Mad Over Donuts, the gourmet donut chain run by Himesh Foods with 150+ stores, has launched a part stake sale to raise growth capital, amid heightened M&A

Key facts

  • 150 stores
  • Rs 1,700 crore
  • Rs 2,400 crore

Why this matters

The Belgian Waffle and Theobroma deals have opened a clear M&A window in gourmet desserts, and Mad Over Donuts' partial stake process is a timely tell on where strategic and PE appetite is converging next.

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