“Ek laakh crore ki bhujiya!”: Anupam Mittal reacts as Temasek joins Haldiram’s $10 billion snack empire

A Landmark Deal in India’s FMCG Sector

The agreement, signed on 11 March after months of negotiations, is a significant milestone for Haldiram’s, a household name in India’s snack industry. Temasek emerged as the highest bidder for the minority stake, signalling growing international interest in India’s consumer market.

This acquisition marks a major step in Temasek’s strategy to strengthen its presence in India. With a growing economy and rising consumer demand, the Indian FMCG sector is proving to be a lucrative investment destination for global firms.

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Temasek’s Expanding Footprint in India

Temasek’s investment in Haldiram’s is part of its broader expansion in India. The Singaporean firm already has significant stakes in Indian companies across various sectors. As of March 2024, Temasek’s exposure to India stood at $37 billion. Over the next three years, it plans to invest another $10 billion, further deepening its commitment to the Indian market.

Some of its notable investments include:

• Manipal Health – Temasek holds a 51% stake after a $2 billion investment.
• Rebel Foods – The firm led a $210 million funding round in 2024, valuing the company at $1.4 billion.

With these investments, Temasek is diversifying its portfolio, moving beyond healthcare and food technology into India’s booming packaged food sector.

More Stake Sales on the Horizon?

While Temasek has secured a minority stake, discussions are reportedly ongoing with private equity giants Blackstone and Alpha Wave Global for an additional 5% stake in Haldiram’s. The promoter family is said to be considering further divestment, which could bring in even more foreign investment.

Haldiram’s is one of India’s most recognised brands, known for its traditional snacks and sweets. The company’s ability to attract a valuation of $10 billion underscores the strength of India’s FMCG sector, which continues to see rising demand from both domestic and international investors.

As foreign investment pours into Indian brands, the competition in the packaged food market is set to intensify. With a strong consumer base and increasing global interest, India’s FMCG sector is poised for significant growth in the coming years.

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