Haldiram stake sale: A Blackstone-led consortium can buy stake in Haldiram, a namkeen, sweets and snacks manufacturing company. Abu Dhabi Investment Authority and Singapore State Fund GIC Pte, included in the Blackstone consortium, can pay $ 1.6 billion to buy 20 percent stake in Haldiram. Talks were going on between the two parties regarding this deal for the last several months. Now the Blackstone-led consortium has emerged as the most preferred bidder to buy stake in Haldiram. After completion of this deal, the valuation of Haldiram is estimated to be 8 billion dollars (about Rs 70000 crore).
Blackstone consortium can buy stake
According to Bloomberg’s report, the talks between the two parties regarding the deal are in the advanced stage and an agreement on this deal is expected in the next few weeks. However, some other companies are also showing interest in buying stake in Haldiram and according to the report, they can also bid to buy stake in the company. Singapore’s Temasek Holdings Pte is also among the potential buyers to buy the stake.
Earlier there were reports of taking majority stake.
A few months ago, it was reported that the Blackstone led consortium was preparing to acquire majority stake in Haldiram. But now the company can buy only 20 percent stake. However, no final decision has been taken yet. Blackstone’s representative has refused to say anything about talks with Haldiram to buy the stake.
Promoters are also considering bringing IPO
Haldiram’s was started in 1930. The company is quite famous for its salty Bhujia product. Haldiram’s portfolio has become very diverse. Apart from namkeen, sweets are also available in Haldiram’s restaurants. Haldiram also exports its products to many foreign markets like Singapore and America. Let us tell you, last year it was reported that Tata Group is also trying to buy Haldiram. At that time the valuation of the company’s business was estimated at $10 billion. However, then this news came to be refuted. Haldiram’s promoters are considering options like selling majority stake along with bringing the company’s IPO.
read this also
DigiLocker News: Investors’ shares-mutual fund holding details will be stored in DigiLocker! SEBI’s proposal, suggestions can be given till 31st December
