A global investment group has reportedly submitted a non-binding bid of $ 8.5 billion (about Rs 70 thousand crore) to buy 76% stake in the country’s popular snacks company Haldiram. According to the report, a consortium led by private equity firm Blackstone along with Abu Dhabi Investment Authority and GIC Singapore have submitted a bid to buy the stake. However, till now no official information has been given by Haldiram and the consortium regarding this. This could be India’s biggest private equity deal. According to media reports, if this deal happens then it will be the biggest private equity deal in India so far. HSFPL is the combined packaged and snacks food business of the Delhi and Nagpur group of the Agarwal family. Snack market 13% share, started in 1937 According to Euromonitor International, Haldiram has about 13% share in India’s $6.2 billion snack market. Pepsi, famous for Lay’s chips, also has about 13% share. Haldiram’s snacks are also sold in foreign markets like Singapore and the US. The company has approximately 150 restaurants. It started with a small shop in 1937.
