MUMBAI: Global investors are queuing up to take a bite of snacks maker Haldiram’s. After Singapore’s Temasek, UAE-based IHC (International Holding Company) and American investment firm Alpha Wave Global have invested in the company’s ongoing equity round, joining its cap table. While the financial specifics of the transaction, pegged to be the largest private equity consumer deal in the local market have not been disclosed, industry sources said that IHC and Alpha Wave Global are collectively acquiring about 6% stake in Haldiram Snacks Food at a valuation of $10 billion.

Private equity giant Temasek has acquired 9-10% stake in the company for over Rs 8,500 crore at the same valuation, TOI had reported last month. Haldiram’s which plans to go public will leverage the reach of IHC and Alpha Wave Global to expand its footprint in key markets US and the Middle East. “These markets which demonstrate growing demand for Indian cuisine and snacks will be the primary focus area in the company’s global expansion strategy,” the company said in a statement on Monday. The partnership represents patient capital and long-term support to Haldiram’s growth plans, a company spokesperson said.
The company which holds an estimated 13% share in India’s $6.2-billion savoury snacks market is expected to start the process for IPO in over a month with a listing being targeted in two years, sources had earlier told TOI. Haldiram Snacks Food houses the merged businesses (snacks) of the Nagpur and Delhi factions of the company which started as a small shop in Bikaner in 1937.