Race for Haldiram Snacks, Temasek Ahead with Signed Term Sheet

After 18 months of talks, Singapore-based investment firm Temasek has become the frontrunner to acquire a minority stake in Haldiram Snacks, as per media reports.

This is an important step in the ongoing process, where the Delhi and Nagpur families of the indian multinational snacks company are involved.  After submitting binding bids, Temasek and the promoters of Haldiram Snacks have finalized a term sheet, according to the report.

Read also - Oben Electric Raises Rs 50 Cr In Series A Funding Round

A term sheet sets the key terms of an investment deal and lays the groundwork for a final binding agreement.

The report cited a source saying that this is a pre-IPO deal aimed at setting a valuation benchmark. Temasek plans to acquire a stake of less than 10% in Haldiram Snacks, with the company valued between $10 billion and $11 billion.

Although the deal has progressed slowly, there has been significant movement since late December, and there is hope it will be finalized soon. If the promoters agree, there could be a chance to sell additional stakes to other private equity investors, but it's still unclear if that will happen, according to the report.

Previously, a demerger of Haldiram Snacks Private Ltd (HSPL, representing the Haldiram Delhi group) and Haldiram Foods International Pvt Ltd (HFIPL, representing the Haldiram Nagpur group) resulted in the formation of Haldiram Snacks Foods Private Ltd (HSFPL). The shareholders of HSPL and HFIPL now hold 56% and 44% of the stakes, respectively.

About Haldiram Snacks

Established in 1937, Haldiram Snacks is a leading Indian multinational snacks company known for its diverse range of traditional Indian snacks, sweets, and ready-to-eat food products. 

Advertisment

It offers a wide array of products including namkeens, bhujia, sweets, and packaged meals. With a presence in both domestic and international markets, Haldiram has expanded its operations to various countries, making its iconic products accessible to a global audience.

Startup Funding News: Your Gateway to Every Funding Update.

Latest Startup News: Stay updated with the latest startup news and trends. Your go-to source for startup ecosystem updates.

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.