Temasek's $1 Billion Bet on Haldiram's: Indian Snack Major's Value Jumps to $10 Billion

Mumbai (The Uttam Hindu): In a significant development, Haldiram's Snacks, a leading Indian multinational snacks and sweets company, has entered into an agreement with Temasek, a Singapore-based global investment firm, to sell a 10% equity stake for $1 billion. This transaction values Haldiram's at $10 billion. The company plans to utilize the funds for expansion, both in India and internationally, to solidify its presence in a competitive market. Haldiram's is also in advanced talks to sell an additional 5-6% stake for around $500 million.

PwC acted as the exclusive financial advisor, while Khaitan & Co served as the legal advisor for the transaction. The deal is expected to close shortly after receiving regulatory approvals. Haldiram's spokesperson expressed excitement about partnering with Temasek, citing their experience in the consumer space, which will help accelerate growth and strengthen the company's ability to meet evolving consumer demands.