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  5. Haldiram’s sees 10% stake acquired by Temasek for $10 billion, check details

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Haldiram’s sees 10% stake acquired by Temasek for $10 billion, check details

Upstox
By Upstox News Desk

2 min read | Updated on March 13, 2025, 14:47 IST

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SUMMARY

After months of discussion, Singapore-based investment company Temasek acquired a nearly 10% stake in India’s biggest snack company, Haldiram’s for about $1 billion.

Haldiram’s has a market share of nearly 13% in India’s $6.2-billion market for savoury snacks. | Image: Shutterstock

Haldiram’s has a market share of nearly 13% in India’s $6.2-billion market for savoury snacks. | Image: Shutterstock

Singaporean state-owned investment firm Temasek Holdings inked a pact to acquire a nearly 10% stake in Haldiram Snacks Foods Private Ltd for approximately $10 billion (about ₹85,000 crore), according to industry sources, a PTI report said.
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Temasek was picked as it has a proven track record in the consumer sector, along with a partnership mindset, said a source close to Moneycontrol.

The agreement came after months of negotiations, with Blackstone, Alpha Wave Capital and Bain Capital-led consortiums having previously expressed interest in the Indian FMCG company.

However, on March 4, Blackstone pulled out citing valuation concerns as it wanted a 15% stake for about $8 billion, while Haldiram wanted them as just financial investors at $10 billion, a Reuters report said.
Haldiram is also contemplating the sale of an additional minority stake on top of the 10% it sold today to other bidders, the PTI report added.

About Haldiram’s

Haldiram’s is an Indian Fast Moving Consumer Goods (FMCG) company known for its range of sweets and snacks, it also owns a chain of over 150 fast food restaurants.

Haldiram Snacks Food is the combined business of the two fractions of the Haldiram family - Delhi and Nagpur.

The National Company Law Tribunal has already approved the process of merger of the two fractions, while other regulatory approvals are awaited.

In 2022, it was announced that the packaged snacks businesses of Delhi-based Haldiram Snacks and Nagpur-based Haldiram Foods International would be first demerged and then merged into an entity named Haldiram Snacks Food.

According to Euromonitor, Haldiram’s has a market share of nearly 13% in India’s $6.2-billion market for savoury snacks.

Barclays Hurun India Rich List 2024 had named Haldiram’s India’s most valuable unlisted company of 2023. However, it was not on the top 10 on the list in 2025.

Established in 1937 as a retail sweets and namkeen shop in Bikaner, Rajasthan by Ganga Bhishen Agarwal, Haldiram products are now sold in over 80 countries.

With PTI inputs
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About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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