Anupam Mittal, a judge on Shark Tank India, recently commented on the acquisition of a 9-10% stake in Haldiram’s, a popular Indian snacks brand, by Singaporean investment firm Temasek. In a social media post, Mittal expressed his amazement at the reported valuation of Haldiram Snacks Foods at nearly $10 billion (around ₹8,500 crore), writing “Ek Laakh Crore ki bhujiya? Kamaal hai India” (Is it even worth one lakh crores? It’s amazing in India).
The acquisition is one of the largest recent deals in India’s fast-moving consumer goods sector and could pave the way for increased foreign investment. Temasek, which has a significant exposure to India with plans to invest another $10 billion over the next three years, is expanding its portfolio beyond its existing high-profile holdings, including Manipal Health and Rebel Foods.
The deal was the result of several months of negotiations, with Temasek emerging as the highest bidder for a minority stake. The investment highlights Temasek’s strategic push to grow its presence in India’s rapidly expanding consumer sector. The company is also in talks with private equity giants Blackstone and Alpha Wave Global to acquire an additional 5% stake in Haldiram’s, with the promoter family considering selling the stake.