After promoting over 9 per cent stake to Temasek of Singapore for round Rs 8,000 crore, Haldiram Snacks Meals, the nation’s main snack and meals model, has offered one other six per cent stake to 2 new buyers – Abu Dhabi-based IHC (Worldwide Holding Firm) and Alpha International Wave. Although the corporate didn’t announce the deal measurement, market estimates are that it may very well be round Rs 6,000 crore, valuing the corporate at $10 billion (Rs 86,000 crore).
With this, Haldirams has raised round Rs 14,000 crore by promoting 15 per cent stake within the firm. With the backing of Alpha Wave International and IHC, Haldirams is about to leverage the huge experience and networks of those buyers to broaden its footprint in key worldwide markets such because the US and Center East, whereas strengthening its footprint and presence additional in India, stated PwC India, which acted because the monetary advisor to the deal. “These markets which reveal rising demand for Indian delicacies and snacks, would be the major focus areas within the firm’s international enlargement technique,” it stated.
“With this partnership, we’re well-positioned to reinforce our product choices, broaden our operations, and additional our mission to make Haldirams a family title in Center East and different worldwide geographies,” stated a spokesperson of Haldirams.
The stake sale may very well be a precursor to an preliminary public providing (IPO) by Haldiram, in accordance with funding banking sources.
Ganga Bhishen Agarwal was the founding father of Haldirams. Agarwal household was working three totally different entities in India with Delhi (run by Manohar and Madhusudan Agarwal), Nagpur (run by Kishan Agarwal), and Kolkata (Shiv Ratan Agarwal) households working separate companies. Delhi and Nagpur households lately merged into a brand new entity named Haldiram Snacks Meals Personal Ltd (HSFPL).
Shiv Ratan Agarwal’s Bikaji Meals got here out with a profitable IPO, with the difficulty being priced at Rs 300 per share that’s now quoting at Rs 721 on the inventory exchanges. “If Haldirams comes out with an IPO, international non-public fairness corporations will buy stakes in unlisted corporations like Haldirams earlier than the IPO and later promote it throughout the IPO at a hefty premium. This has occurred in a number of circumstances within the final two years,” stated an funding banking supply.
Began in Bikaner, Rajasthan, in 1937, Haldirams spectacular product portfolio includes over 400 objects, together with conventional namkeens, western snacks, Indian sweets, cookies, sherbets, pickles and extra. Buyer favourites like gulab jamun, Bikaneri bhujia, and papadam have contributed to the model’s success.
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