Indian snack company Haldiram’s has made significant progress in its ongoing equity financing round, announcing that it has added two new investors, Alpha Wave Global and International Holding Company (IHC), to its list of investors. This comes just weeks after Singapore’s Temasek, a prominent sovereign wealth fund, acquired a 10% stake in the company for approximately $1 billion.
With the latest investments, Haldiram’s has secured a significant influx of capital, which it plans to use to drive growth and expansion in the market. The company, which is known for its popular snacks such as snacks such as rasgullas, samosas, and various types of chaat, has been on an acquisition spree in recent years, expanding its portfolio of products and brands.
Alpha Wave Global, a global growth equity firm, and IHC, an Abu Dhabi-based conglomerate, join Temasek as investors in Haldiram’s equity financing round. The exact stake acquired by each of the new investors has not been disclosed.
Haldiram’s has been expanding its presence in the domestic market and internationally, with a focus on emerging economies such as the Middle East, Southeast Asia, and Africa. The company has also been venturing into new product categories, such as baked foods and premium snacks.
The latest investments are significant for Haldiram’s, as they demonstrate the confidence of global investors in the company’s growth prospects and its ability to compete in the highly competitive snack food market. With its expanded capital base, Haldiram’s is well-positioned to drive further expansion and growth in the coming years.
Overall, the latest developments at Haldiram’s are a testament to the company’s success in building a strong brand and its appeal to investors. As the snacking landscape continues to evolve, Haldiram’s is poised to capitalize on opportunities and maintain its position as a leading snack food company in India and beyond.