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Resurfacing a March 2025 report: Haldiram's reportedly sold 6% to IHC and Alpha Wave for $600M after Temasek deal at $10B valuation
Haldiram's is said to have sold 6 per cent for $600 million to IHC and Alpha Wave Global, after agreeing to sell 9 per cent to Temasek at a $10 billion valuation. An IPO is expected in the next 18 to 24 months.
- Stake to Temasek9 per cent
- Stake sold to IHC and Alpha Wave6 per cent
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Reported figures
From the report. Source details below
| Haldiram's brand history: | over 90 years |
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Why it matters to operators and investors
With a reported $600M more in the bank on top of Temasek's 9%, Haldiram's can likely fund more capacity, distribution and export push, so snack and sweets rivals and retail partners should expect tougher competition for shelf space and sharper trade terms.
What to watch next
- Formal announcement or regulatory filing confirming the close of the Temasek and IHC/Alpha Wave stake sales
- Appointment of IPO bankers or a draft offer document filing
- Any third pre-IPO stake sale or secondary transaction beyond the roughly 15% already placed
- Listed packaged-food peers' valuations and new IPO performance in India
- Management commentary on revenue growth or capex backing the $10 billion valuation
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Haldiram's is likely to announce or confirm the close of the Temasek and IHC/Alpha Wave transactions in the coming weeks, with board seats or governance rights for the new investors.
- Expect Haldiram's to begin formal IPO preparation, including bankers, auditors and a consolidated corporate structure, as it works toward the 18 to 24 month listing window.
- Rival Indian snack and packaged-food makers may seek their own growth capital or accelerate listing plans, to benchmark against the $10 billion valuation.
- Haldiram's is likely to put the fresh capital into capacity, distribution and export expansion to support the growth story that a public listing will need.
- Indian market regulators and other parties are likely to review the deal filings and the pre-IPO shareholder structure as the listing gets closer.
The source
Published
First seen