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Resurfacing March 2025 report: Temasek to buy nearly 10% of Haldiram's snacks business for about $1 billion, per Reuters
Temasek agreed to acquire nearly 10 per cent of Haldiram's snacks business for approximately $1 billion, per Reuters. Blackstone had bid for a 20 per cent stake at a lower valuation. Haldiram holds nearly 13 per cent of India's $6.2 billion savoury snacks market.
- Stake Temasek agreed to acquire
- nearly 10 per cent
- Deal value
- approximately $1 billion
- Haldiram share of savoury snacks market
- nearly 13 per cent
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Reported figures
From the report. Source details below
| Haldiram Foods International FY24 consolidated net sales: | Rs 4,551 crore |
|---|---|
| FY24 net sales growth: | 10.9 per cent |
| Haldiram Foods International FY24 net profit: | Rs 597 crore |
Why it matters to operators and investors
With Temasek's roughly $1B behind a brand that already holds nearly 13% of India's $6.2B savoury snacks market, rivals should expect Haldiram to spend more on capacity, distribution and shelf presence, and should defend their trade terms and price-pack positions now.
What to watch next
- Formal announcement or regulatory filing confirming the Temasek stake size and price
- Bank mandates or a draft offer document for a Haldiram's listing
- A revised or renewed Blackstone approach
- Promoter statements on IPO timing within the next year
- Share-price and valuation moves at listed Indian snack and packaged-food peers
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Haldiram's promoters are likely to start informal talks with investment banks on an IPO, using the Temasek price as the anchor.
- Temasek is likely to seek standard minority protections, such as information rights and board or observer access, as it takes nearly 10%.
- Blackstone may stay in contact with the promoters, since its bid for 20% came in at a lower valuation and it may look to re-enter at a later round or at the IPO.
- Listed and unlisted Indian snack and packaged-food rivals may cite the deal to justify their own fundraising or valuation expectations.
- Haldiram's is likely to use the fresh capital and the higher profile to push for more share in India's savoury snacks market, where it holds nearly 13%.
The source
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First seen