Mumbai: Global investors are queuing up for snack manufacturer Haldiram’s bite. After Singapore TemassekUAE-based IHC (International Holding Company) and American Investment firm Alpha Wave Global have invested in the company’s ongoing equity rounds, which are joining their cap table. While the financial nuances of the transaction are to be the largest private equity Consumer deal has not been disclosed in the local market, with industry sources stated that IHC and Alpha Wave Global are collectively getting about 6% stake in the $ 10 billion evaluation of $ 10 billion.
TOI reported last month that private equity giant Temasek had a 9-10% stake in a company of over Rs 8,500 crore in the company. Haldiram plans to go publicly, which will take advantage of the reach of IHC and Alpha Wave Global to expand its footprint in major markets in the US and Middle East. The company said in a statement on Monday, “These markets that demonstrate the growing demand for Indian cuisine and snacks, the company’s global expansion strategy will have primary focus areas.” A company spokesman said that the partnership represents patients capital and long -term support.
The company that has an estimated 13% stake in India’s $ 6.2 billion assumed snack market is expected to start the process for an IPO in a month, which is targeted in two years with target in a month, sources told TOI earlier. Haldiram Snack Food House has a business merged business of Nagpur and Delhi groups of the company which started in 1937 as a small shop in Bikner.
