Haldiram’s attracts investments from Alpha Wave, IHC
This funding comes as part of Haldiram’s ongoing equity financing round and follows a recent investment from Temasek.
INDIA – Haldiram’s, a household name in India’s snack industry has secured investment from two new backers: Alpha Wave Global and the International Holding Company (IHC).
Haldiram’s stated that these new investments further reinforce the company’s financial standing as it pursues expansion plans, particularly in the United States and the Middle East.
Alpha Wave and IHC are acquiring a minority stake of approximately 6% in Haldiram Snacks Food, which values the company at around US$10 billion (₹85,000 crores). This valuation is one of the highest in India’s packaged food sector.
Alpha Wave is an international investment firm specializing in private equity, private credit, and public markets.
Meanwhile, UAE-based IHC ranks among the world’s largest investment companies and continues to expand its interests in the agriculture and food & beverage sectors with the acquisition of Haldiram’s stake.
“This investment reflects Alpha Wave Global’s and IHC’s commitment to supporting leading companies with strong consumer brands. The partnership represents patient capital and long-term support for Haldiram’s growth plans. With this collaboration, we are well-positioned to enhance our product offerings, expand our operations, and further our mission to make Haldiram’s a household name in the Middle East and other regions,” a spokesperson for Haldiram’s said.
Temasek Acquires 10% Stake in Haldiram’s
This latest development follows shortly after Singapore-based investment firm Temasek acquired a 10% stake in Haldiram’s for approximately US$1 billion.
Under a previous agreement, Temasek committed to purchasing an equity stake from existing shareholders of Haldiram’s, which is India’s largest manufacturer of packaged snacks and sweets, as well as a prominent restaurant chain operator.
With this investment, Haldiram’s aims to accelerate its expansion in both domestic and international markets, thereby strengthening its position in a competitive industry. PwC’s investment banking division served as the exclusive financial advisor for this transaction.
The National Company Law Tribunal had previously approved the company’s merger process, although additional regulatory clearances are still pending.
Founded in 1937 by Ganga Bhishen Agarwal as a small sweets and snacks shop in Bikaner, Rajasthan, Haldiram’s has since grown into a global brand, with its products available in over 80 countries.
In 2022, it was announced that the packaged snack businesses of Haldiram Snacks, based in Delhi, and Haldiram Foods International, based in Nagpur, would first undergo demerger before merging under the entity Haldiram Snacks Food.
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