Temasek to buy 10% in Haldiram's for ₹8,500 cr

Talks on for another 5% stake sale to other PE firms at similar valuation

- Sneha Shah

Singapore government's private equity arm Temasek has agreed to acquire a 10% stake for ₹8,500 crore in Haldiram Snacks Food Pvt. Ltd. (HSPL), two people aware of the development said.

The company is the parent of the eponymous snacks brand Haldiram's, India's largest.

The deal values the business at ₹85,000 crore or nearly $10 billion, the first person cited above said, speaking on the condition of anonymity as details are not public yet. "The family is likely to sell another 5% stake in the business to either a Blackstone-led consortium or Alphawave Global," the person added.

The stake sale talks with Blackstone and Alphawave will likely be on the same financial terms as that of Temasek, said the second person cited above, who also didn't want to be identified. "The agreement with Temasek has been signed. The family is in talks with the other two bidders."