look news india
The race to buy stake in India’s leading packaged snack and sweets company Haldiram has intensified. Three major companies are involved in this race – Blackstone, Bain Capital, and Alpha Wave Global. Haldiram’s, which is not only in the snacks and sweets business but is also active in restaurant operations, plans to sell a part of its stake.
Alpha Wave Global offered more than $1 billion
According to sources, Alpha Wave Global has offered more than US $ 1 billion (about Rs 8300 crore) to buy 15 to 20 percent stake in Haldiram.
- Promoter Family:
- Haldiram’s promoter Agarwal family may finalize the deal by early January 2025.
- Earlier the family was planning to sell a large stake, but now they have decided to sell only a few stakes.
This investment will help Haldiram fund its expansion plans, allowing the company to expand rapidly in the domestic and international markets.
Plan to launch IPO also possible
After this stake sale, Haldiram’s promoters may also consider launching an IPO (Initial Public Offering) in the future.
- Merger Process:
- Haldiram’s business is divided into two parts – Delhi and Nagpur units.
- The National Company Law Tribunal (NCLT) has approved the merger of these two parts, although other regulatory approvals are still awaited.
Strong claim from Blackstone and Bain Capital
Blackstone and Bain Capital are already in the race to buy Haldiram’s stake.
- There were news in July 2024:
- Blackstone Inc had increased its offer for stake in Haldiram.
- According to reports, Blackstone and a group of other investors had bid Rs 40,000 crore for Haldiram’s 51% stake.
- Due to this deal, the estimated valuation of Haldiram was estimated between Rs 70,000 to Rs 78,000 crore.
Importance of Haldiram’s stake sale
Sale of stake in Haldiram:
- Will help in the expansion of the company.
- Will boost the global reach of the brand.
- New investors will get an opportunity to enter India’s rapidly growing snack and food market.