Haldirams to sell 10% stake to Temasek in deal valuing firm at $10 bn

Haldiram Snacks Food (Haldirams), the Indian multinational company known for snacks and sweets, has made a deal with the global investment firm Temasek, based in Singapore, to sell an equity stake owned by current shareholders, according to a press release from PwC.

Although the announcement did not specify the precise stake that was sold, sources previously informed Business Standard that Haldiram has entered into a deal to sell just under 10 percent, valuing the company at $10 billion.

Haldirams is currently in advanced discussions to sell an additional 5–6 percent stake for approximately $500 million. The investment banking team at PwC acted as the sole financial advisor for the transaction, with Khaitan & Co providing legal advice. The transaction is anticipated to finalize soon after obtaining the necessary regulatory approvals.

On behalf of the Haldirams group, a spokesperson said in the release: “We are thrilled to welcome Temasek as an investor and partner in Haldirams. We look forward to working with them to harness the value they bring from their experience in the consumer space to accelerate our growth and strengthen our ability to meet evolving consumer demands. We also extend our gratitude to PwC and Khaitan & Co for their dedicated support during this transaction.”

Sanjeev Krishan, chairperson, PwC in India, said, “At PwC, we take pride in being catalysts of entrepreneurial success—helping businesses transform into global giants. Our decade-long collaboration with Haldirams exemplifies this commitment.”

 Krishan added, “Over the years, we have advised them on various aspects of strategic planning and decision making. This transaction is not only the largest private equity consumer deal in India, but also a reflection of domestic businesses that continue to elevate India’s positioning on the global stage. We thank the Haldirams family for trusting us and giving us this opportunity.”