Haldiram Stake: Many global investor firms like Blackstone to Temasek are involved in the race to buy the stake of sweets and namkeen manufacturing company Haldiram. Haldiram’s valuation is more than $10 billion (more than Rs 85,500 crore). However, Singapore’s global investment company Temasek is leading the race to buy about 10 percent stake in the company at a valuation of $10-11 billion i.e. Rs 94,270 crore. Both these companies have also signed the term sheet for this deal. This is a document that details all the rules and regulations regarding a potential investment, including terms and conditions.
They are also ahead in the race to buy stake
Along with Temasek, Alpha Wave Global, a unit of America’s Tiger Global Management, is also involved in this race to buy the stake. Alpha Wave Global has investments in many firms in India. According to investment banking sources, this could be a pre-IPO deal, the purpose of which is to set a benchmark for the valuation of the company. Here, Temasek said in a statement to The Indian Express, we do not comment on the speculations going on in the market. Along with this, Temasek refused to say anything about this. Haldiram has also not given any reaction on this yet.
Things did not work out with Blackstone
The Blackstone-led consortium had demanded to buy 20 percent stake in the company at a valuation of $10 billion. Whereas Haldiram was expecting a total valuation of $12 billion for this stake. Ultimately things did not work out between the two. Now if Haldiram does a deal with a private equity firm at a valuation of $10 billion, it will probably be one of the biggest deals in Indian corporate history. Let us tell you that Haldiram Snacks did a business of Rs 6,375 crore in the financial year 2023.
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