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A $10-bn taste of tradition
Financial Express Kochi
|April 05, 2025
THE SNACKS AND FOODS EMPIRE, VALUED AT OVER ₹85,000 CRORE AFTER ITS LATEST FUNDRAISE, IS CURRENTLY HELMED BY THE ELUSIVE AGARWAL BROTHERS
IT STARTED AS a hole-in-the-wall outlet selling namkeen and mithai in Bikaner, Rajasthan, way back in 1937. Today, Haldiram's is the undisputed bhujia king that marquee global investors are rushing to grab a bite of. It is tough to put a single face behind its grand success story, though.
"Every member of the family is involved in every decision made for the brand," says an executive in the thick of things.
The snacks and foods empire, valued at over $10 billion (₹85,000 crore) after its latest fundraise, is currently helmed by the elusive Agarwal brothers — Shiv Kishan and Manohar Lal Agarwal, the grandsons of Haldiram's founder Ganga Bhishen Agarwal who was fondly called Haldiram by her mother. A young Ganga Bhishen got to know the recipe from his aunt who used to make a thick and soft prototype of the current snack known as Bikaneri bhujia.
Today they are available in stores of every size and shape across the country and many across the world, and their soan papdis are the country's Diwali gifting staple. But pinning them down for an interview is as difficult as Ghibli-fying your selfie is easy.
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