Anupam Mittal, the founder of Shaadi.com and a judge on the Indian version of Shark Tank, has reacted to the news of Haldiram Snacks Foods’ $10 billion valuation with a witty remark on social media. Mittal’s comment, “Ek laakh crore ki bhujiya? Kamaal hai India” (A Rs 1 lakh crore worth of bhujiya? Amazing India), was in response to reports of Singapore’s state-owned investment firm Temasek acquiring a 9-10% stake in Haldiram’s for $1 billion.
The deal, which values the Indian snack giant at $10 billion, is one of the largest foreign investments in India’s FMCG sector. Temasek considers Haldiram’s a “prized asset” that will help expand its focus on India’s consumer sector, which is driven by rising disposable incomes and shifting consumption patterns. The firm has a significant exposure in India, with a $37 billion investment as of March 2024, and plans to invest an additional $10 billion over the next three years.
Haldiram’s, founded in 1937, has evolved into India’s most valuable consumer brand, with a wide range of namkeens, sweets, and packaged foods. The company has expanded its footprint both domestically and internationally, making it an attractive investment opportunity for global investors. Temasek’s investment in Haldiram’s is a testament to the growing appeal of India’s consumer market, which is driven by a expanding middle-class population.
Mittal’s comment highlights the surprise and amazement at the massive valuation of Haldiram’s, a company that is known for its humble beginnings and traditional Indian snacks. The deal is expected to have a significant impact on India’s FMCG sector, with many experts predicting that it will attract more foreign investments and drive growth in the industry. Overall, the investment in Haldiram’s is a significant development for India’s consumer market and a testament to the country’s growing appeal as a investment destination.