Haldiram Sells 6% Stake to New Investors; Valuation Reaches $10 Billion
New Delhi, 2nd April 2025: Haldiram, India’s largest sweets and snacks manufacturer, has created a stir in the country’s packaged food industry by selling a 6% stake in its snack business to two new investors, International Holding Company (IHC) and Alpha Wave Global. While the company has not disclosed specific deal details, industry sources estimate the transaction values Haldiram at approximately $10 billion (₹85,000 crore), marking one of the highest valuations in India’s packaged food sector. Earlier, Haldiram had confirmed a partial stake sale to Singapore-based global investment firm Temasek, though the details of that deal also remain undisclosed.
In an official statement, Haldiram expressed its excitement about welcoming IHC and Alpha Wave Global as new investors following Temasek’s participation in the company’s equity round. The company believes this strategic move will strengthen its financial position as it looks to expand globally, particularly in the U.S. and the Middle East. Alpha Wave Global is an international investment firm specializing in private equity, private credit, and public markets, while UAE-based IHC is among the world’s largest investment firms.
Several private equity firms, including Blackstone, Alpha Wave Global, and Bain Capital, had been vying for a stake in Haldiram’s snack food division. Founded in 1937, Haldiram has grown into a global brand with a presence in over 100 countries. The company offers more than 400 food products, including savory snacks, sweets, ready-to-eat meals, frozen foods, biscuits, confectionery, beverages, and pasta. It exports its products to multiple international markets, including Europe and the U.S.
According to a report by research firm IMARC Group, India’s snack market was valued at ₹42,694 crore in 2023 and is projected to grow to ₹95,521 crore by 2032. Haldiram faces stiff competition from brands like Balaji Wafers, Bikanervala Foods, ITC, Parle Products, and PepsiCo. As of the financial year 2022, Haldiram’s valuation was estimated at ₹83,000 crore based on its sales revenue.
