Yupi Indo Debuts on Indonesia Stock Exchange, Raises $131 Million from IPO

JAKARTA, investortrust.id – Indonesia’s leading jelly candy manufacturer PT Yupi Indo Jelly Gum Tbk has debuted on the Indonesia Stock Exchange, offering shares to the public for the first time as it seeks to expand its production capabilities and strengthen its global presence.

The company, listed under the ticker YUPI, offered 854.44 million shares at an initial price of Rp 2,390, raising a total of Rp 2.04 trillion ($131 million). Yupi Indo Jelly Gum has joined the main board of the bourse. Its IPO, underwritten by Mandiri Sekuritas, CIMB Niaga Sekuritas, and OCBC Sekuritas Indonesia, accounts for 10 percent of the company’s enlarged capital.

With this capital raise, YUPI becomes the second-largest IPO issuer of 2025 to date, trailing only PT Bangun Kosambi Sukses Tbk, or CBDK, which raised Rp 2.30 trillion ($148 million) when it went public on January 9.

Founded as a pioneer in Indonesia’s soft candy industry, Yupi Indo Jelly Gum has expanded its footprint across Southeast Asia and beyond, exporting to nine countries in the region and 36 other nations worldwide. The company manages several consumer brands, including Yupi, Just for Fun, and Gummy Zone.

Of the Rp 2.04 trillion raised, Rp 640.83 billion originated from the issuance of new shares, while the remaining Rp 1.49 trillion was derived from a secondary share sale by shareholder PT Sweets Indonesia.

The company plans to allocate 77 percent of the Rp 640.83 billion from the fresh share issuance to finance capital expenditures, specifically for the construction of a new production facility in Nganjuk, East Java. The plant, which is expected to begin operations in 2026, is estimated to require an investment of Rp 435.5 billion ($28 million). The remaining 23 percent will be used as working capital to support domestic and international market expansion efforts.

In terms of financial performance, Yupi Indo reported a year-on-year increase in net profit from Rp 440.44 billion to Rp 484.25 billion as of September 2024. However, its revenue saw a slight decline, dropping from Rp 2.52 trillion to Rp 2.41 trillion during the same period.