Indonesia’s gummy giant Yupi sets sights on sweet growth with 2.1 trillion rupiah IPO
The company aims to expand domestic and regional presence through its offering of around 854 million shares, at a price range of 2,100 to 2,500 rupiah apiece
[JAKARTA] Indonesia’s leading jelly gum producer, Yupi Indo Jelly Gum, aims for sweet growth through domestic and regional expansion, backed by an upcoming initial public offering (IPO) that could be one of the largest this year.
The gummy giant aims to raise 2.1 trillion rupiah (S$171 million) in its stock-market debut on Mar 21, offering around 854 million shares, equivalent to 10 per cent of its total stake, at a price range of 2,100 to 2,500 rupiah per share, according to its prospectus filed on Thursday (Mar 6).
Of the shares offered, some 598.11 million will come from major shareholder Sweets Indonesia, while the remaining represent newly issued shares.
With its eyes on even sweeter prospects, Yupi plans to use 77 per cent of the net proceeds from its IPO – totalling 437 billion rupiah – to build a new factory in Nganjuk, East Java, set to kick into gear by 2026. The remaining will fuel its domestic and international expansion. “This allocation is intended to anticipate market demand and ensure sufficient stock availability,” the company stated in its prospectus.
Its book-building period will be from Mar 17 to 19, with CIMB Niaga Sekuritas and Mandiri Sekuritas serving as the underwriters.
Headquartered in West Java, Yupi Indo Jelly Gum is Indonesia’s leading soft-candy brand, known for its products such as Yupi, Just for Fun, and Gummy Zone. It has also pioneered the creation of uniquely shaped gummies, including innovative designs such as burgers and waffle sandwiches.
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Established in 1996, the company operates two manufacturing plants – in West Java and Central Java – with a combined capacity of 93,000 tonnes a year.
It dominates Indonesia’s soft-candy market with a share of 65 per cent, and has also tasted sweet success in nine more South-east Asian countries and 36 other markets.
In 2023, the company posted a 38 per cent surge in profit, reaching 560 billion rupiah, up from 404 billion rupiah in the previous year.
Indonesia’s IPO market has gained momentum in 2025 after a slow 2024, a year marked by a shift in government. So far this year, eight companies have raised a combined US$231 million, about a quarter of last year’s total.
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