Singapore’s sovereign investment firm Temasek has made a massive ₹8,500 crore ($1 billion) investment in India’s iconic snack brand Haldiram’s, securing a 9% stake in the company. This move highlights the growing appeal of India’s booming fast-moving consumer goods (FMCG) sector, particularly its savory snacks market, which is valued at $6.2 billion.
Why Haldiram’s?
Haldiram’s is far more than just a household name in India—it’s a dominant player in the snack industry. According to Euromonitor International, the company holds a nearly 13% share of India’s massive savory snacks market. From classic bhujia to an extensive range of namkeens, sweets, and frozen foods, Haldiram’s has built an empire that extends beyond Indian borders.
With rising consumer demand for packaged snacks and ready-to-eat foods, Temasek sees long-term growth potential in Haldiram’s expanding footprint.
Blackstone’s Exit, Temasek’s Gain
Temasek’s investment comes shortly after private equity giant Blackstone pulled out of the race to acquire a minority stake in Haldiram’s, citing valuation concerns. Despite this, Temasek’s decision to move forward suggests strong confidence in the brand’s growth trajectory and profitability.
Temasek’s India Strategy
This isn’t Temasek’s first major bet on India’s consumer market. The firm has previously invested in Manipal Hospitals and Devyani International, the operator of KFC and Pizza Hut in India. By adding Haldiram’s to its portfolio, Temasek is further solidifying its position in the country’s high-growth food and beverage sector.
Is an IPO on the Horizon?
Industry analysts speculate that this investment could be a precursor to Haldiram’s launching an IPO in the near future. With its strong market share, global expansion ambitions, and now the backing of a major international investor, Haldiram’s may be preparing for its next big move.
Final Thoughts
Temasek’s billion-dollar investment underscores the massive potential of India’s snack industry and its global appeal. Whether this move paves the way for an IPO or further international expansion, one thing is clear—the world is betting big on bhujia.
Would you invest in Haldiram’s if it went public?
