Temasek Takes a Bite: Acquires Stake in Haldiram Snacks

Temasek Holdings seeks to acquire a 10 percent stake in India's Haldiram Snacks Food through Jongsong Investments. The market-leading snack producer could use this cash infusion for expansion, potentially welcoming another investor or pursuing an IPO next year.

Singapore's sovereign wealth fund Temasek Holdings has officially approached the Competition Commission of India (CCI) for approval to acquire approximately 10 percent of Haldiram Snacks Food, a premier Indian snack and sweets company, through its subsidiary Jongsong Investments Pte.

This strategic acquisition aims to secure less than 10 percent of the company's issued and paid-up equity share capital, as outlined in the acquisition proposal filed with the CCI, which emphasizes compliance with competition laws and regulations.

Industry insiders suggest that this move values Haldiram Snacks at roughly USD 10 billion, with potential plans for further stake sales to other investors or an IPO in the near future to tap into India's robust stock market and support the company's growth domestically and internationally.

(With inputs from agencies.)