Haldiram's, a leading Indian snack and sweets manufacturer, has recently been valued at $10 billion following Singapore's state investment firm Temasek's acquisition of a 9-10% stake for approximately $1 billion.
While there is no official confirmation about the stake acquisition, the deal is one of the largest foreign investments in India’s FMCG sector. Notably, India has been seeing changes in consumption patterns and an increase in disposable incomes, which has made it a popular destination for international investors looking to enter its growing middle-class market.
Shark Anupam Mittal’s Reaction
This substantial valuation of Halidram’s newest investment has garnered attention across various sectors, including from prominent entrepreneur and Shark Tank India judge, Anupam Mittal.
In a post shared on X, Anupam Mittal wrote: “Ek Laakh Crore ki bhujiya? Kamaal hai India”
Mittal’s tweet set social media abuzz, with users offering mixed reactions - some amused, others debating the valuation’s validity.
One user commented, “Haldiram is not just bhujia; it's an almost 9-decade-old traditional business with a core of emotional touch & presence in every household. Not a new-age bubble business, which may burst anytime.”
Another user stated, “Isn't it less? The business started 88 years ago, is steadily growing with good brand value and great scope to expand.” They also added that it's not just bhujia and still has a valuation of just $10 B only. And the likes of Zomato and Byju had more valuation.
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Temasek's Strategic Investments in India
Temasek's investment in Haldiram's aligns with its strategy to expand its presence in India's burgeoning consumer sector.
Investment in Haldiram's is one of the biggest recent transactions in India's fast-moving consumer goods industry. The most recent acquisition, may open the door for more foreign investment.
Temasek is expanding its portfolio beyond well-known holdings like Manipal Health, in which it owns a 51% stake after investing $2 billion, and Rebel Foods, in which it led a $210 million funding round in 2024, valuing the company at $1.4 billion.
As of March 2024, Temasek had an estimated $37 billion exposure to India, with plans to invest an additional $10 billion over the next three years.
Although Temasek acquired the minority interest, sources told TOI that talks are still going on with private equity behemoths Blackstone and Alpha Wave Global regarding a further 5% stake that the promoter family may sell.
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