Temasek Invests in Haldiram’s as India Becomes a Key Market
Singapore’s state-owned investment fund, Temasek, has made yet another major investment in India; this time it acquired a 10% stake in Haldiram‘s Snacks Food, one of the leading snack brands in India.
This deal was worth $1 billion, giving Haldiram’s a valuation of $10 billion. This is the largest private equity deal in the consumer sector in India.
Reasons for Investing in Temasek Haldiram’s
Temasek has put up investments across several sectors in India, including but not limited to medicals, finance, and technology. Long-term growth potential for India is seen by the fund, which plans to invest $10 billion in the next three years.
The spokesperson from Haldiram’s said they’re thrilled to welcome Temasek as an investor and partner. It is going to complement the company’s expansion further, both within India and abroad.
Haldiram’s: A Legacy of Success
Haldiram’s started as small snack shop in Bikaner, Rajasthan, in 1937. Today, it is a household name across India famous for savoury snacks, sweets, and fast-food outlets.
Beverage brand holds nearly 13% of India’s $6.2 billion snack market according to Euromonitor International. It has also set up a manufacturing facility in the UK from where products are exported to different countries.
Haldiram’s Attracting More Investors
Haldiram’s has already positioned itself as a company sought out by major global investors. Companies such as the Tata Group and Bain Capital have toyed with earlier decisions about purchasing a stake in the company.
It is joined in this latest funding round by Temasek, along with two other investors- Alpha Wave Global (New York-based) and the UAE’s International Holding Co.
Temasek Expanding Its Footprint in India
Since 2004, Temasek has been building its presence in India based on its Mumbai office. Investments in the country are nearing $40 billion by 2024.
Apart from Haldiram’s, Temasek has now invested in leading Indian companies like:
- HDFC Bank (private banking)
- Ola Electric (producing e-scooters)
- Zomato (food delivery)
- Manipal Hospitals (healthcare)
- Devyani International (KFC & Pizza Hut operator in India)
Looking Beyond India
But while Temasek stays optimistic about India, it has been restructuring its portfolios across all geographies depending on economic and geopolitical factors.
In 2020, China constituted 29% of Temasek’s investments. That is set to fall to 19% by 2024, whereas India now makes up 7% of the total portfolio.
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