After murmurs of stake sale, Haldiram’s now reportedly mulling IPO

Last month, the snack maker had received bids from two consortiums, but the deals did not match the company’s valuation expectations.

Indian snack maker Haldiram’s is mulling going public as plans to sell a stake to foreign investors have stalled, Bloomberg reported on Wednesday, citing people familiar with the matter.

The 87-year-old company’s owners, the Agarwal family, are now exploring an initial public offering after bids for its stake sale did not match its valuation expectations. Last month, Haldiram’s received bids from two consortiums—one led by Blackstone, along with Abu Dhabi Investment Authority and Singapore’s sovereign wealth fund GIC, and another led by Bain Capital along with Singapore-based Temasek. These deals valued Haldiram’s at $8-8.5 billion, but it reportedly did …

Author

Disha Acharya

Disha is a writer at The Morning Context. She has previously worked at the digital production desk of Reuters. Prior to that, she was a sub-editor at Deccan Herald.

Writer

disha@mailtmc.com

Bengaluru