In a significant move for the Indian snack industry, Haldirams has revealed a new partnership with the International Holding Company (IHC) from the UAE and Alpha Wave Global. This investment round also saw participation from Singapore’s Temasek, showcasing a strong interest in the brand’s potential for global expansion. Although the exact stakes acquired by IHC and Alpha Wave have not been disclosed, sources indicate they may collectively secure a 5-6% stake in the renowned snack maker, valued at approximately ₹5,000 crore.

Temasek’s Strategic Stake

Temasek is set to enhance its involvement by purchasing an additional 9% stake for around ₹8,000 crore. This investment will elevate its total stake in Haldirams to about 15%, all part of a pre-IPO fundraising initiative that aims to bolster the company’s financial foundation.

• Key Players:
  • IHC and Alpha Wave Global
  • Temasek

Alpha Wave Global’s Investment History

Previously known as Falcon Edge Capital, Alpha Wave Global has a diverse portfolio, investing in various successful Indian startups such as Swiggy, Lenskart, and Ola. Moreover, its global ventures include backing innovative companies like SpaceX and Uber, indicating a robust belief in high-growth potential.

Strengthening Ties with the UAE

Both IHC and Alpha Wave Global maintain close relationships with the ruling family of Abu Dhabi, enhancing their influence in the region. Sheikh Tahnoon Bin Zayed Al Nahyan, the chairman of IHC, also serves as the UAE’s National Security Advisor, which underscores the strategic importance of this partnership.

Expansion Plans and Market Focus

According to Haldirams, the collaboration with IHC and Alpha Wave Global will enable it to tap into their extensive networks and expertise. This partnership is geared towards expanding Haldirams’ presence not just in India, but also in lucrative markets like the United States and the Middle East, where the demand for Indian snacks is on the rise.

• Focus Areas:
  • Expansion in the US and Middle East
  • Strengthening domestic operations in India

A representative from Haldirams emphasized that this partnership will allow the company to enhance its product offerings and operational capabilities, reinforcing its position as a leading player in the Indian snack market, which generated revenues of around ₹13,000 crore in 2023-24.

Competitive Landscape

In the rapidly evolving snack industry, Haldirams faces competition from brands like Bikaji Foods and Bikanervala. The company is also in the process of merging factions of the Agarwal family that own the brand, aiming for a more unified corporate structure.

Forward-Looking Statements

Syed Basar Shueb, CEO of IHC, expressed confidence that this investment aligns with their strategy to support impactful companies. Meanwhile, Rick Gerson, co-founder of Alpha Wave Global, highlighted their pride in partnering with Haldirams as it embarks on its next phase of growth—both domestically and internationally—while continuing to delight customers.

In this evolving landscape, Haldirams stands poised for a promising future, backed by significant investments from notable global players. As the snack giant seeks to expand its footprint, the focus on global markets will play a crucial role in its growth trajectory.

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