Haldiram's will not be sold, speculations put to an end, the common man of the country will become the owner - Newztezz - Latest News Today, Breaking News, Top News Headlines, Latest Sports News


Wednesday, June 12, 2024

Haldiram's will not be sold, speculations put to an end, the common man of the country will become the owner

Haldiram's IPO: The speculations about the sale of 'Haldiram', a snack brand known in every household of India, now seem to be coming to an end. It is likely that soon the common man of the country will be its owner, because the Agarwal family is now considering bringing an IPO of 'Haldiram'. Read this news...

Be it visiting sister's house on Rakshabandhan or sending sweets to relatives on Diwali, if there is one brand that is recognized in every household in India, it is 'Haldiram'. For a long time, speculations about Haldiram's sale have been spreading in the market. Sometimes the news comes that Tata Group wants to buy it, and sometimes the world's largest private equity fund 'Black Stone' shows interest in it. Now these news seem to be coming to an end.

Yes, the latest news is that Haldiram has not received the valuation it is expecting from either the Tata Group or the Blackstone consortium. The latest talks were being held with a consortium of Blackstone and other companies, but it is being said that these talks have also fallen through. Instead, Haldiram is now considering launching its own IPO.

'Haldiram' may launch IPO

The 'Haldiram' brand is currently managed by three different companies. But overall, the 'Haldiram' business is still with the Agarwal family. One of its three divisions is in Kolkata, which is not already a part of any sale deal. Haldiram Snacks Private Limited in Delhi and Haldiram Foods International Private Limited in Nagpur own the brand, which were about to merge during talks with the Blackstone consortium. On this basis, the valuation of the company was estimated to be up to $8 billion.

'Haldiram's' Delhi business is owned by Manohar Agarwal and Madhusudan Agarwal. While the Nagpur business is owned by Kamalkumar Shivkishan Agarwal. After the merger, the name of the new company was going to be Haldiram Snacks Food Private Limited. But now the news is that only the owner of Delhi's Haldiram Snacks Private Limited is going to bring its IPO. Haldiram's restaurant business alone is worth Rs 1800 crore.

wants $12 billion valuation

ET has said in a report citing sources familiar with the matter that when Haldiram was negotiating with Tata Group, it had calculated a valuation of $10 billion. Then during the talks with the Blackstone consortium, Haldiram wanted a valuation of $12 billion, but it got a valuation of only $8 billion.

Sources say that now 'Haldiram' has decided that it will list itself in the stock market at a valuation of 8 to 8.5 billion dollars. However, nothing has been said officially about this yet. 'Haldiram' was started in Bikaner in the 1930s by Ganga Bishan Agarwal.

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