“Ek Lakh Crore Ki Bhujiya? Kamaal hai”: Anupam Mittal was impressed by Haldiram’s $10 billion deal with Temasek
“Ek Lakh Crore Ki Bhujiya? Kamaal hai”: Anupam Mittal was impressed by Haldiram's $10 billion deal with Temasek
Anupam Mittal, a prominent entrepreneur and judge on the Indian TV show “Shark Tank India,” made a lighthearted comment about Temasek’s recent investment in Haldiram’s Snacks Foods. He remarked, “Ek Laakh Crore ki bhujiya? Kamaal hai India,” meaning “A hundred billion rupees for bhujiya? India is amazing!”
This humorous observation draws attention to Haldiram’s impressive valuation, which is estimated at around $10 billion (₹8,500 crore). Temasek’s investment in Haldiram’s, finalized on March 11, is a significant milestone for India’s packaged food industry. The investment firm acquired a 9-10% minority stake in the company, beating out several other global firms, which underscores the growing international interest in India’s consumer market. This deal is a positive sign for the Indian FMCG sector, pointing towards a bright future as the industry continues to attract global investment and expand its reach.
This investment is one of the largest foreign deals in India’s FMCG sector, highlighting the confidence global investors have in the country’s booming food and retail market. India has become a prime target for international investment, driven by factors like rising disposable incomes and evolving consumer preferences. The growing middle class is especially attractive to global investors looking to capitalize on its increasing purchasing power.
Temasek’s investment in Haldiram’s is part of their larger investment strategy in India. The Singaporean investment firm already has a substantial presence in the country, with a $37 billion exposure as of March 2024. Temasek plans to further expand its investment in India, committing an additional $10 billion over the next three years.
A few of its prominent investments in India include:
Temasek, a Singaporean investment company, is making a significant move into India’s packaged food sector. They’ve invested $2 billion for a 51% stake in Manipal Health, a healthcare company, and led a $210 million funding round in Rebel Foods, a food tech company, in 2024. These investments, along with their latest move to acquire a stake in Haldiram’s, demonstrate Temasek’s growing interest in India’s food industry.
While Temasek has already secured a substantial stake in Haldiram’s, reports indicate that private equity giants Blackstone and Alpha Wave Global are in discussions to acquire an additional 5% stake in the company. If finalized, this deal would further attract foreign capital into India’s FMCG space. Haldiram’s, a well-known Indian snack brand, has attracted global interest due to its traditional sweets and packaged foods. The company’s valuation of $10 billion highlights the strength and potential of India’s FMCG sector, which continues to draw in major international players.
