Founded in the 1930s by Ganga Bishan Agarwal in North India, Haldiram’s is renowned for its wide range of food products, including sweet and savoury snacks, frozen meals, and breads. According to sources, Temasek Holdings Pte. is in discussions to acquire a minority stake in Haldiram Snacks Pvt Ltd., potentially valuing the company at approximately $11 billion.
The Singaporean state investor is reportedly considering purchasing between 10% and 15% of Haldiram, aiming to position itself for a future initial public offering (IPO). Although talks are underway, they may not necessarily result in a finalised deal, as other bidders have also expressed interest in the company.
While Temasek declined to comment on the negotiations, Haldiram’s did not provide an immediate response. The company operates 43 restaurants in and around Delhi, showcasing its diverse offerings.
The Agarwal family has been exploring various options, including selling the business or pursuing an IPO. As global investors turn their attention to India due to its rapid economic growth, the country has emerged as a hub for investment opportunities.
Temasek has invested nearly $37 billion in India over the past 20 years, with plans to significantly increase this amount. The firm typically seeks minority stakes and aims to assist Indian companies in their growth while focusing on sectors such as digitization, consumption, and sustainable living. Notable potential investments include VFS Global, which is valued at around $7 billion, including debt.
