# Neel Kotak

> Neel Kotak is the Ahmedabad-based founder, Managing Director and CEO of Iscon Balaji Foods. An IIT Bombay chemical engineering graduate, he built a potato-processing business that began with dehydrated flakes and expanded into frozen foods, farmer partnerships and international distribution. He was included in the Economic Times 40 Under Forty class of 2025.

- **Role:** Managing Director & Chief Executive Officer at Iscon Balaji Foods
- **Organizations:** Iscon Balaji Foods
- **Education:** B.Tech. in Chemical Engineering, Indian Institute of Technology, Bombay
- **Known for:** Built IBF from potato flakes into a business manufacturing frozen potato foods for domestic and overseas markets., Named in the Economic Times 40 Under Forty class of 2025., Led IBF as it announced a $215 million Series A including a $150 million Advent investment in May 2026.

## Career timeline

- **2006-2010** — Studied at IIT Bombay; public reporting identifies his degree as chemical engineering.
- **2012** — Founded Iscon Balaji Foods with backing from the Iscon and Balaji Wafers promoter groups.
- **2013** — IBF began manufacturing dehydrated potato flakes in Gujarat.
- **2016** — IBF’s company timeline and Kotak’s 2020 interview date its move into frozen French fries to 2016.
- **2022** — IBF’s company timeline records the domestic launch of Hungritos.
- **2025** — Included in the Economic Times 40 Under Forty class of 2025.
- **2026** — IBF announced investment partnerships with 360 ONE Asset and Advent to support its next phase of growth.

## Achievements

- Built IBF from potato flakes into a business manufacturing frozen potato foods for domestic and overseas markets.
- Named in the Economic Times 40 Under Forty class of 2025.
- Led IBF as it announced a $215 million Series A including a $150 million Advent investment in May 2026.

## Latest updates

- **2026-09** — IBF’s Hungritos brand exhibited frozen potato products at Fine Food Australia 2026 in Melbourne; this is a company update, not a verified personal appearance by Kotak.
- **2026-05** — Advent announced an agreement to invest $150 million for a significant minority stake as part of IBF’s $215 million Series A, with participation from 360 ONE.
- **2026-01** — 360 ONE Asset announced an approximately $70 million investment to support capacity, supply-chain and international expansion.

## Links

- Website: https://isconbalajifoods.com
- LinkedIn: https://www.linkedin.com/in/neel-kotak-5a281a13/

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Profile page: https://yespress.io/neel-kotak
Published by YesPress — https://yespress.io
Last updated: 2026-10-07