Haldiram Snacks, a renowned Indian snack company, is considering an initial public offering (IPO) after rejecting acquisition offers from investors like Blackstone and Bain & Company for not meeting the Agarwal family's $12 billion valuation expectation. The family received bids ranging from $8 billion to $8.5 billion. With India's IPO market booming, raising nearly $4 billion so far this year, going public remains an attractive alternative for Haldiram.
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#Haldiram #HaldiramIPO #Haldiramsnacks #Blackstone #Bain&Company #IPO #IPOnews #StockMarket #IndianMarket #Sharenews #Businessnews #Oneindia #Oneindianews
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NewsTranscript
00:00Haldiram Snacks, a cherished name in India's culinary heritage, is considering an initial
00:11public offering after repeated attempts to sell the company to foreign investors.
00:16The decision comes as the Agarwal families, the owners of Haldiram's, found the bids they
00:21received insufficient according to money control reports.
00:27The family received offers in the range of $8 billion to $8.5 billion from major investors,
00:33including a consortium led by Blackstone, with participation from Abu Dhabi Investment,
00:39Authority and GIC, and other groups led by Bain & Company and Temasek Holdings.
00:44However, these offers did not meet the Agarwal family's valuation expectations of $12 billion,
00:50prompting them to consider going public instead.
00:54Currently, the IPO consideration is still in its preliminary stages, with no definitive
01:00decisions made yet.
01:07The controlling shareholders might still lower their valuation expectations and proceed with
01:13a direct sale, but a public offering remains an attractive option given the current position
01:18trends in the Indian IPO market.
01:21India's IPO market has been remarkably active this year.
01:24Indian companies have raised about $3.9 billion through IPOs so far, which is double the amount
01:31raised during the same period in 2023.
01:34This figure also surpasses the combined totals for Hong Kong and Korea.
01:40Haldiram's, founded by Ganga Bhishan Agarwal in the 1930s in North India, was evolved from
01:50a small sweets and snacks shop to a major food producer-restaurant operator.
01:55Today, Haldiram's offers a wide range of products from savoury snacks to sweets to
02:01frozen meals and breads.
02:03In the world where people are obsessed with health foods, demand for Haldiram's snacks
02:07remains unbeatable.
02:09Some brands like Bikaji, Bikano, Balaji and more are ready to compete with Haldiram's.
02:15A potential IPO would not only mark a significant milestone in Haldiram's journey, but also
02:21reflect broader economic trends in India.
02:23The country is seeing a surge in IPO activity, driven by growing middle class, increased
02:28consumer spending and a favourable regulatory environment.
02:32For Haldiram's, going public could provide the capital needed for further expansion and
02:38innovation helping to cement its position as a leader in the Indian food industry.
02:42We will continue to monitor this story and bring you updates as they develop.
02:46Thank you.