Temasek acquires 10% stake in Haldiram's snacks business for $1 billion

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Temasek acquires 10% stake in Haldiram's snacks business for $1 billion - Business Standard

Quick Summary:

While Temasek’s bid ultimately secured the deal, American private equity (PE) giant Blackstone had also made an offer for a 20 per cent stake but at a lower valuation.

Beyond its packaged snacks, Haldiram’s also operates a chain of restaurants, further solidifying its presence in India’s food industry.

Bankers suggest that Haldiram’s promoters have been considering an initial public offering (IPO) within the next year, aiming to capitalise on India’s buoyant stock market.