Haldiram Snacks Pvt Ltd., a popular Indian snack maker, is thinking about an initial public offering (IPO) after their plan to sell to foreign investors didn’t work out.
Missed Valuation Expectations
The Agarwal family, who owns Haldiram’s, is considering the IPO because offers ranging from $8 billion to $8.5 billion were below their expected valuation of about $12 billion, sources said. These sources wanted to stay anonymous due to the private nature of the information.
In May, Haldiram’s got offers from a group led by Blackstone Inc., including the Abu Dhabi Investment Authority and GIC Pte. Another offer came from a group led by Bain & Co. and Temasek Holdings Pte, according to local news.
IPO Plans in Early Stages
The idea of an IPO is still in the early stages, and the owners might still decide to lower their asking price and go ahead with a sale, the sources added.
India has become a major spot for IPOs, raising around $3.9 billion this year—twice as much as the same period in 2023 and more than the combined totals of Hong Kong and Korea, based on the data.
Haldiram’s was founded by Ganga Bishan Agarwal in the 1930s in North India. The company offers a wide range of foods, including sweet and savory snacks, frozen meals, and breads. They also run 43 restaurants in and around Delhi, according to their website.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
